Fixed-Income
The state fund is looking for taxable municipal bond managers.
The plan also decided to not continue with its REIT manager search.
The $20 million commitment results from an ongoing search in the space.
The firm has launched a new fund targeting seasoned mortgage-backed securities.
The fund considered terminating a high-yield fixed-income manager and launching a search for a replacement firm at its board meeting this week.
The plan replaced its intermediate fixed-income manager due to personnel changes at the firm.
The pension plan’s investment committee approved commodities, fixed-income and private credit commitments last week.
The foundation is proposing shifting its $642 million consolidated endowment fund toward private equity, domestic public equity and short-duration fixed-income.
The plan will issue an RFP for domestic core fixed-income managers as part of a restructure approved at this week’s board meeting.
The pension plan hired a new manager after increasing its domestic fixed-income target allocation in May.