International / Global / Emerging Markets
Plan will potentially launch an RFP for an emerging markets equity manager after adding a second firm to diversify its exposure to the space this week.
The fund added a global equity investment with a newly operational firm this week.
The plan removed a manager structure constraint for its return-seeking fixed-income portfolio and approved a value-add real estate commitment with an existing manager this month.
The plan will interview two U.S. small-cap value equity managers this week and also recently added an international equity manager.
The plan will also target more $720 million to alternative funds in 2023.
The plan will seek board approval to terminate a high-yield fixed-income manager and an emerging markets equity manager.
The plan also disclosed private equity, real estate and strategic investments from the third quarter.
The plan will begin with a mid-cap growth equity manager search in January.
The plan expects to make a decision on hiring an emerging markets value equity manager at a future meeting following finalist presentations conducted this week.
The private credit fund focuses on asset-backed investments.