International / Global / Emerging Markets
The plan first hired managers for the asset class in 2015.
Plan intends to issue an RFP to seven to 10 firms in June after narrowing the universe to 15 potential candidates through screening.
The plan transitioned to an external currency emerging market debt mandate to move away from its incumbent local currency mandate.
The fund added a global real estate strategy and passive international equity strategy with a New England-based firm to its roster of underlying funds to add more yield and reduce overall fees.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan diversified its international equity portfolio by swapping a growth manager for a value manager this week.
Plan will consider options for redirecting its dedicated emerging markets equity allocation at a future meeting.
The plan added a European private equity commitment in the first quarter.
The plan is searching for two emerging market debt managers and one high-yield fixed-income manager.
The plan is seeking an international equity manager to handle a $35 million allocation.