Equity
The firm is launching a global value fund to run in parallel with its flagship strategy.
The plan is potentially looking to replace its international developed markets equity manager.
The search is for active large-cap, small- to mid-cap and small-cap equity managers.
The pension plan hired the manager as part of a new domestic equity structure.
The divestments stem from New York State Comptroller Thomas DiNapoli’s Climate Action Plan.
The average 2023 fiscal year return of colleges and universities’ endowments exceeded fiscal year 2022 returns as the smaller endowments’ public market exposures helped them outperform their larger peers.
The plan replaced several of its passive mandates with Vanguard Group at yesterday’s board meeting.
The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.