Large-Cap
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.
The deferred compensation plan replaced its domestic large-cap value equity manager in the fourth quarter.
The investment board also hired a new international growth equity manager.
The pension plan also adopted a new asset allocation policy for its $141.8 billion Core Trust Fund last month.
The plan moved more than $70 million into passive strategies at its February meeting.
The state deferred compensation fund previously authorized a search to replace an underperforming incumbent in January.
The retirement system hired a new international large-cap core equity manager for diversification purposes last month.
The retirement system will consider six commitments totaling $265 million at Thursday’s investment committee meeting.
The termination stems from an upcoming co-portfolio manager departure.
The retirement plan will consider the termination of three equity managers amid a restructuring of its public equity portfolio next week.