International / Global / Emerging Markets
The search follows the plan’s decision to divest its emerging markets equity allocation from Chinese holdings.
The pension plan liquidated its approximately $1.9 billion international equity mandate and made commitments totaling $108 million in April.
The fund approved the addition of core fixed-income, international equity and private equity secondaries investments during its board meeting last week and is slated to consider combining two of its ten investment pools later this month.
The retirement system has terminated a global equity manager that it first hired in 2014.
The plan recently terminated three equity managers and made private markets commitments totaling $95 million.
The plan will interview three finalists for a maiden global equity mandate in August.
The pension plan approved three commitments with an existing manager relationship last week.
The plan began a search in April that excluded its two incumbent managers.
The trust fund will consider adding core fixed-income, international equity and private equity secondaries strategies with new investment managers to its portfolio during its board meeting this week.
The search is being conducted in accordance with state procurement laws.