The university system is considering adding a fossil fuel-free passive index strategy to align with its recent mandate to divest its portfolios of direct and indirect investments in fossil fuels.
The public school fund selected its incumbent passive equity manager to handle approximately $343 million in October following a search from this summer due to the firm’s contract expiration.
The firms plan to form a joint venture combining their cash equities and equity research businesses to provide investment insights into the American, European and Asia Pacific equity markets as well as liquidity access and leading global trading technology.
The institution approved a new passive equity index investment with a diverse manager this summer as part of its commitment to promote diversity, equity and inclusion internally and through its selection of investment managers.