Equity
The pension plan will liquidate its entire domestic equity roster.
The searches follow asset class reviews by the plan’s general investment consultant.
The authority also hired a total of six new managers within its global equity and fixed-income portfolios as part of an asset allocation policy approved in February.
The university recently added a new domestic equity manager within its endowment with funding coming from cash and future distributions from managers in the asset class.
The university unanimously approved making public equity investments with new domestic and international equity managers within its endowment at its June board meeting.
The pension plan funded one of its separate account mandates for the global equity emerging manager program last month.
The deferred compensation plan will consider potentially replacing two equity managers, which are both on watch.
The upcoming search will seek potential replacements for the plan’s incumbent, which handles $477 million.
The plan also approved a new international equity structure and a real estate pacing plan at today’s board meeting.
The university will consider public equity investments with domestic and international equity managers within its endowment at this month’s board meeting.