International / Global / Emerging Markets
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.
The plan will hear from a total of 10 managers in its global equity and private equity searches.
The RFP will be issued on the plan’s website “shortly.”
The changes stem from a new global equity manager structure.
The incumbent international large-cap value equity manager had been on watch due to underperformance, asset outflows and organizational changes.
The search is being conducted to comply with standard state procurement laws.
The plan is searching for index managers to handle $10.5 billion.
The plan selected two international small-cap value equity managers to conclude its search for a firm in the fourth quarter due to underperformance from the incumbent.