New public equity policy targets will help the plan better align with the global marketplace.
Plan invested with two international equity managers and a direct lending manager yesterday.
Plan reallocated its $2.7 million international small- to mid-cap growth equity investment to an existing MSCI ACWI ex-U.S. Index fund.
Axiom will manage a $100 million emerging markets equity portfolio for the plan.
Selected international large-cap growth equity manager will handle between $1 billion and $2 billion and the U.S. REIT manager will manage between $100 million and $200 million.
Global value hire will replace the plan’s existing passive global core equity mandate with Northern Trust Asset Management.
The searches will go live on May 2.
Plan staff and general investment consultant Verus will conduct on-site due diligence of the four firms.
Credit and venture capital commitments were made with three existing managers yesterday.
Plan will hear preliminary results of an annual asset/liability study next month and make recommendations for any changes to the portfolio in June.