International / Global / Emerging Markets
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
The plan also made $440 million in real assets and private equity commitments at today’s meeting.
The search is due to underperformance from a current manager.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The pension fund’s 3% portfolio to the asset class is currently held in an index fund.
The plan is seeking managers to handle $30 million.
The search will be for two managers to handle up to $483 million.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The search follows the plan’s termination of an incumbent manager at yesterday’s board meeting.
The fund approved recommendations to add new multi-strategy hedge fund managers as well as introduce long/short active management in the international equity portfolio last month.