Hedge Funds
The plan eliminated two hedge fund investments and will redistribute the funds to increased allocations with other portfolio managers.
The plan will issue an RFP later this year due to standard state procurement laws and has also tabbed several private markets searches.
The plan also made a $50 million long/short equity investment last month.
The termination results from a new asset allocation.
The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
Retirement system is seeking a pool of managers to provide the services.
The plan hired a pair of domestic small-cap growth equity managers last week.
The firm hired two co-portfolio managers to lead its quantitative short-term strategy designed to identify top-down market regimes and systematically uncover patterns in price data.
The firm has promoted a v.p. and analyst to portfolio manager for several of its growth equity and long/short equity strategies.