International / Global / Emerging Markets
The pension board will also target $1 billion to non-traditional equity strategies.
The retirement system first considered issuing the RFP last year.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.
The plan approved a recommendation from plan staff after tabling a decision from last month.
The retirement system also recently made commitments totaling $585 million.
The plan made several changes as part of a total equity structure review at today’s board meeting.
The retirement fund will interview two firms to handle the new allocation.
The retirement plan’s incumbent manager was placed on watch today for performance and organizational issues.
The university made several re-up and add-on commitments with existing developed equity, hedge fund and private equity managers within its portfolio during the third quarter.
The plan is looking to allocate up to $250 million to emerging managers.