International / Global / Emerging Markets
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.
The actively managed strategy is part of a new series of mutual funds and accelerates the firm’s ongoing strategy to expand its in-house intermediary distribution network in the U.S.
The plan received an international equity structure review at today’s meeting that calls for a public RFP process.
The plan terminated its emerging markets equity allocation amid a “challenging environment” for the asset class.