International / Global / Emerging Markets
The plan hired one international equity manager and terminated three others at this week’s board meeting.
The plan has selected four firms for further due diligence and evaluation.
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The plan also received a hedge fund search report that includes 22 responses.
The firm will continue to provide private equity and real asset consulting services for the plan following its rehire last week.
The pension plan terminated a roughly $360.5 million emerging markets equity mandate last month.
The search to fill a roughly $25 million allocation is open to both active and passive strategies.
The plan also received an update on its global equity manager search at a meeting yesterday.
The plan’s board voted today to replace the incumbent with a comparable provider.
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.