International / Global / Emerging Markets
Plan is searching for a multi-asset credit manager to fill a maiden allocation to the asset class.
The plan will receive a recommendation to approve a new manager structure for the asset class that will result in eliminations and subsequent searches.
The plan’s incumbent manager was first hired in 2004.
The university adjusted its investment policy to allow for increases to its equity portfolio following a recommendation from its investment advisor to diversify and enhance portfolio returns.
The plan will seek approval to liquidate a $51 million mandate, with $15 million going to cash and the remainder to international equity.
The plan has begun searches for international equity and core and non-core real estate managers.
The current consultant will see its contract expire this year.
The plan made the hires after restructuring its international equity and U.S. fixed-income manager portfolios.
The plan recently hired four hedge fund managers as part of its transition to a direct investment model.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.