Large-Cap
The pension plan has issued a general investment consultant RFP due to an upcoming contract expiration and will launch an active domestic large-cap value equity manager search as part of a portfolio structure review.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The plan will also receive an infrastructure search report next month.
The decision came as the firm’s performance has been a drag on the plan’s return.
The plan elevated its core-plus bond manager to watch status.
The plan’s domestic large-cap portfolio will now be passively managed.
The plan also made two follow-on private equity commitments.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.
The plan’s current manager was first hired in 2017.
The plan is looking to potentially replace its incumbent due to performance issues.