Equity
The plan increased its fixed-rate debt target by reducing its public equity target last month.
The plan recently committed approximately $2.2 billion total to nine funds.
The search follows the departure of an investment associate that left at the beginning of the year to join a West Coast endowment.
A total of up to $1.5 billion is expected to be awarded in the search.
The plan rehired its incumbent after interviewing four total firms today.
The plan will look to hire maiden ACWI-ex U.S. large-cap core and small-cap equity managers.
The plan’s investment committee hired an emerging markets core equity manager and approved two credit commitments last week.
The plan hired two international equity managers to handle up to $700 million total last week following a search from 2022.
The plan terminated its active international value equity manager in December due to underperformance.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.