Equity
The new manager joins two global equity managers that were hired last year.
The fund has narrowed its search for a new global equity manager for its portfolio to three finalists and selected a firm in its domestic large-cap growth equity manager search at its board meeting this week.
The pension plan will consider hiring two domestic large-cap growth equity managers later this month as part of an ongoing shortlist search.
The firm has hired two senior professionals to expand its distribution presence in Europe and Asia.
The plan disclosed recent commitments from both the public and private markets.
The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The board was notified of two recent equity manager terminations and a new private equity commitment.
The plan has issued RFPs seeking an active core fixed-income manager as well as index managers.
The hire follows a global equity structure review emphasizing alpha generation.
The fund approved the search last month to survey the market for pricing and services as the incumbent has been providing the services since 2006.