Fixed-Income
The plan agreed to utilize a fund-of-one manager to implement its maiden private credit allocation and hired a short-duration fixed-income manager this week.
The plan’s investment committee also approved a private debt commitment last week.
The firm appointed a head of fixed-income, Americas to oversee its active fixed-income platform and develop actively managed solutions to meet investor needs.
The plan also named two semifinalists in its general investment consultant search.
The plan hired two firms to fill a new allocation to the asset class.
The plan will seek a replacement for a manager redeemed last month due to organizational concerns and performance reasons.
An anonymous mid-Atlantic Taft-Hartley plan is searching for a core fixed-income manager to handle $20 million.
The search follows discussions on an underperforming incumbent manager.
The plan approved the RFP at its board meeting last week.
The fund is conducting the search due to the Sept. 30 contract expiration of its incumbent manager, which is allowed to rebid.