Hedge Funds
The plan will also terminate two existing hedge fund managers.
The plan will seed a new strategy headed by a former senior managing director.
The changes aim to improve portfolio quality for the retirement system’s domestic equity sleeve with several terminations and hires.
The firm hired a director of strategic relations to represent its equity and multi-asset solutions with institutions on the West Coast.
The plan also disclosed two private markets commitments.
The retirement system also hired three firms in its diversifying strategies manager searches yesterday.
The new asset allocation also eliminated the plan’s hedge funds portfolio.
The retirement system made five private markets commitments totaling $160 million last year.
The retirement system will also consider hiring managers in its diversifying strategies manager searches this week.
The terminations include three underperforming managers.
