Equity
The search follows several personnel changes at its incumbent mid-cap growth manager, which has prompted concern from another pension fund.
The plan rehired two of its managers and terminated one as it wrapped up its search process at today’s meeting.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
The three firms are recommended for watch status due to underperformance.
The board hired domestic and international all-cap equity managers last quarter.
If approved, the new 20% global core equity allocation would require a search later this year.
The retirement system hired two international equity managers to replace an incumbent that had been on watch since October.
The foundation recently invested in a climate-focused public equity strategy as it looks to achieve net-zero carbon emissions in its portfolio by 2030.
The search is due to personnel turnover at the pension fund’s incumbent fixed-income manager.
The retirement system also approved private equity and real estate commitments totaling $60 million yesterday.