International / Global / Emerging Markets
Four total firms were interviewed in May for the mandate.
The foundation added an international large-cap equity allocation after revising its asset allocation last year.
The fund narrowed a search for emerging markets large-cap ex-China equity managers to two finalists at the end of the second quarter.
The plan will receive a recommendation to terminate an international equity manager due to underperformance.
The retirement system will interview four firms next month for an up to $225 million mandate.
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.
The retirement system hired a new international equity manager at today’s board meeting.
The retirement system also wrapped up its first fiscal year as an independent entity by outperforming its benchmark by more than 100 basis points.
The foundation added international equity, domestic equity, high-yield bond and infrastructure investments to its portfolio during the second quarter.
The pension is expanding its emerging manager program into the public equity space after initial investments in alternatives starting in 2022.