Equity
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The university approved rebalancing its endowment, including hiring two new active public equity managers, while also revising its endowment and non-endowed investment policies last month.
The plan interviewed three firms for its emerging markets equity mandate.
The plan interviewed two finalists last month for a $46 million mandate.
The plan will interview four emerging markets equity finalists next week.
The plan launched a search last year due to underperformance from its incumbent manager.
The plan hired one new manager and retained one incumbent today.
The retirement system is cutting ties before its current manager shuts down its alternative equity team.
The plan has now hired a total of 12 new international equity managers this year.
The pension plan will conduct domestic large-cap and small-cap equity manager searches this year.