International / Global / Emerging Markets
The fund has added fixed-income, bank loan, international equity and private equity investments to its endowment in recent months as it builds toward a new strategic asset allocation adopted in the first quarter.
The fund is seeking a new international small-cap equity manager after approving a new international equity structure at its board meeting in the first quarter.
The pension plan will consider hiring five non-U.S. equity managers and approving a new private equity portfolio structure this week.
The plan awarded more than $3 billion to international equity and credit managers.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.
The hires conclude a search for managers to handle a $20 million allocation to the asset class.
The plan hired a new emerging markets equity manager after interviewing three finalists today.
The retirement board selected a new emerging markets equity manager following finalist interviews held last month.
The retirement system hired a firm to replace its underperforming incumbent earlier this week.
The plan will target a proposed allocation of $12 million to $18 million for pacing purposes.