Equity
The foundation amended its asset allocation policy, removing its allocation to special purpose acquisition company assets, and added several commitments within its endowment during its second quarter investment committee meeting.
The plan has current managers in the two asset classes.
The firm has launched three actively managed, equity mutual funds focused on generating competitive investment returns through responsible investing.
The plan will fund the new active manager from its index allocation.
The incumbent firm was terminated after being on watch since late 2021 due to a change in the team.
The plan will interview two global equity finalists later this month and has welcomed back a former staffer as its new deputy cio.
The plan is seeking regional and country-specific international equity managers.
The Lone Star State retirement fund terminated one equity manager and placed another two on watch this week.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The fund was slated to receive recommendations to restructure its real estate portfolio and add extended equity managers to its portfolio at its board meeting last week.