Equity
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The termination stems from underperformance and an asset allocation change.
The firm placed its investment in a domestic-large cap fund on watch in the third quarter due to performance concerns, while also removing two funds from watch status.
A healthcare-focused growth equity firm recently launched and has formed a strategic partnership with a private equity firm that focuses on diverse investment firms.
The new managing director of public equity will assist with investment decisions, research prospective investments and underwrite new managers.
The plan’s general investment consultant will search for a new active international equity manager in the near future.
The retirement system also placed its international large-cap growth equity manager on watch last month.
The plan is searching for domestic and international equity, core fixed-income and core real estate managers.
The university also made redemptions from domestic and emerging markets equity managers.
The plan will fund the hires by terminating three existing firms.