Infrastructure
The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.
The search comes after the plan increased its target to the asset class by 2%.
The retirement system also disclosed commitments totaling roughly $2.5 billion at the meeting.
The retirement system doubled its target to value-add real estate at a board meeting today.
The state pension fund approved the hire at today’s board meeting, expanding its existing agreement with its alternatives investment consultant.
The retirement association selected a firm to split its 6% allocation to liquid credit at today’s board meeting.
The fund is removing a bond overlay as market monitor signals have moved to short from neutral and is also increasing two infrastructure commitments within its portfolio.
The firm terminated a roughly $100 million mandate and will use the proceeds to support benefit payments and fund capital calls.
The commitments include two new manager relationships for the plan.
