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.
The plan replaced its domestic all-cap equity manager, which had been on watch since April 2022 due to underperformance.
Retirement system is seeking a pool of managers to provide the services.
The assets will be indexed and no replacement search is planned.
The plan’s current managers were first hired in 2016 following a similar RFP process.
Industry strategists see investment opportunities outside of the U.S. in emerging markets, but risks, such as China and its slow growth, pose challenges that institutions should be mindful about, according to a recent webinar.
The firm has promoted a v.p. and analyst to portfolio manager for several of its growth equity and long/short equity strategies.
The plan will interview four finalists in its international small-cap value search.