Fixed-Income
The plan expects to launch the search in January as its incumbent’s contract is slated to expire on June 30.
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.
