Equity
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.
The foundation added private equity, private credit and international developed markets equity strategies to its portfolio in the second half of 2023.
The institution added a global equity manager to its watchlist due to organizational changes and made an infrastructure commitment as part of its pacing plan last year.
The commitment is part of the plan’s new portfolio structure, which introduced a 5%, or roughly $500 million, private debt target allocation in November.