Fixed-Income
The search follows a new asset allocation that includes maiden targets to corporate credit and bank loans.
The retirement plan replaced its domestic core-plus fixed-income manager following a bond manager review in May.
The plan is expected to issue the RFPs next month.
The retirement system approved an active international equity manager RFP last week.
The retirement system also disclosed a high-yield bond manager hire to complete a search launched last year.
The retirement system approved a commercial mortgage-backed securities commitment last month.
The deferred compensation plan replaced its intermediate fixed-income manager in February due to personnel changes.
The new manager will split the plan’s fixed-income portfolio with its existing core manager.
The plan adopted a new asset allocation that also eliminated risk parity and more than doubled its hedge fund target this week.
The pension plan’s investment committee approved four commitments totaling $275 million last week.