Equity
The search is for global ex-U.S. and passive equity managers.
The institution will come back with a recommendation on how to redeploy the assets from recently terminated public equity and hedge fund managers at a future meeting.
The plan expects to issue the RFP later this month and make a selection in the third quarter.
The university adjusted its investment policy to allow for increases to its equity portfolio following a recommendation from its investment advisor to diversify and enhance portfolio returns.
The board will consider hiring a new public markets consultant later this month.
The current consultant will see its contract expire this year.
U.S. foundation assets fell nearly $250 billion in 2022 and are now at their lowest level since December 2018.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The university approved private equity, real asset, international equity and fixed-income investments with new managers in the second half of 2022.
The university also pivoted one of its retirement plans toward fixed-income during the fourth quarter.