Equity
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.
The plan liquidated a global equity mandate and made $1.5 billion in total commitments in July.
The plan is required to go out to bid every seven years.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in May.