Equity
The plan moved its domestic large-cap value equity mandate with a newly established manager.
The plan terminated a $1.4 billion domestic large-cap value equity mandate and made commitments with four existing managers and one new manager in August.
The plan will issue RFPs within the next two months due to standard state procurement laws.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan disclosed two recent commitments totaling $900 million and named a replacement for CFO Barry Faison, who will officially retire on Dec. 31.
The plan concluded its ESG-focused manager search in the second quarter.
The plan hired two new managers and disclosed five commitments at yesterday’s board meeting.
The plan will review an international small-cap value manager and a low volatility equity manager due to underperformance.
Investment is structured as a co-investment alongside the Princely Family of Liechtenstein.
The plan recently placed an international large-cap equity manager on watch due to underperformance and made $80 million in total private equity commitments.