Fixed-Income
The search will be opened to high-yield corporate debt, leveraged loans, securitized credit and convertible bond strategies.
The retirement plan replaced its domestic core-plus fixed-income manager yesterday.
The contract award concludes a search initiated in January.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The plan adopted a new asset allocation last month.
The hire followed a search launched in April for a single manager to handle $250 million to $300 million.
The search is due to the June 30, 2025 contract expiration of the plan’s incumbent.
The retirement plan is screening for managers in the securitized credit, short-term investment grade and bank loan asset classes.
The plan interviewed two core-plus fixed-income managers at a board meeting last week.
The plan also retained two emerging market fixed-income managers.
