Infrastructure
The plan approved a futures overlay manager search to remove its cash drag and also hired a new infrastructure manager yesterday.
The fund approved an infrastructure commitment with an existing manager at its board meeting last week.
The plan will issue RFPs following adoption of a new asset allocation in June.
The plan is also working to narrow its infrastructure manager search.
The plan hired an infrastructure manager and committed $1.5 billion in the second quarter.
The state is searching for an investment advisor to manage a new $1 billion infrastructure impact investment program.
Plan added a pair of infrastructure investments totaling $30 million.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The fund will focus on value-added, middle market infrastructure investments.
The fund approved a new strategic asset allocation to continue to move its assets toward an endowment style portfolio with private markets investment exposure.