Fixed-Income
The fund expects to hear recommendations on adding private credit, venture capital and public fixed-income managers over the next quarter and a half.
The plan also added two EAFE equity sub-managers to its emerging manager-of-managers portfolio.
The plan deferred its core-plus fixed-income search to its January board meeting.
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.