Equity
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.
The plan will seek a global equity manager to equitize upcoming proceeds.
The retirement system launched a domestic small-cap growth equity search in April.
The foundation added international equity, domestic equity, high-yield bond and infrastructure investments to its portfolio during the second quarter.
The foundation increased its large cap growth equity fund’s allocation to an incumbent manager that utilizes a research-based investment process in quality growth companies.
The plan will move at least a portion of its roughly $57.4 million domestic small-cap core equity mandate to a passive option while it considers the role of the asset class as part of a broader public equity review.
The search was first discussed at the plan’s May board meeting.
The plan is looking to invest $200 million with multiple investment managers.
The retirement system moved away from its active domestic large-cap growth equity manager.
A New York-based growth equity firm’s second fund has garnered a slew of new investors including university endowments.