Investors look to emerging markets fixed-income for diversification and ESG prospects.
Funding for the new investments will come from the plan’s existing high-yield mandate.
He will implement investment strategy for Mesirow Strategic Fixed-Income.
Plan’s passive investment exposure will now be with one manager.
Plan committed to direct lending, infrastructure and real estate strategies with existing managers yesterday.
Firm will establish and actively manage a fixed-income portfolio with core and intermediate strategies.
He will help oversee a $35 billion fixed-income portfolio.
Plan approved a convertible bond hire at today’s meeting as well as private equity and real estate commitments.
The hired firm will provide liquidity to meet the plan’s near-term benefit payments.
He will retain his previous responsibilities as head of institutional business.