International / Global / Emerging Markets
The Lone Star State retirement fund terminated one equity manager and placed another two on watch this week.
The university expects its discretionary provider to conduct a review of its strategic asset allocation during the third quarter and a separate review of its global equity portfolio during the fourth quarter.
The fund has narrowed its search for a new global equity manager for its portfolio to three finalists and selected a firm in its domestic large-cap growth equity manager search at its board meeting this week.
Plan is eyeing searches for active emerging market debt and private markets secondaries strategies following initial discussion earlier this month.
The plan disclosed recent commitments from both the public and private markets.
The plan agreed to redistribute its dedicated emerging markets equity allocation to developed markets equity, private equity, private credit and commodities this week.
The plan is seeking international core, growth and value equity managers to handle roughly $600 million.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The retirement system’s general investment consultant will return to next month’s board meeting with an international small-cap equity search.
The board was notified of two recent equity manager terminations and a new private equity commitment.
