Fixed-Income
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.
The plan’s board will hear presentations from four domestic core fixed-income finalists next week.
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.