Large-Cap
The incumbent international large-cap value equity manager had been on watch due to underperformance, asset outflows and organizational changes.
The pension plan agreed to consider replacing its domestic large-cap core equity manager due to underperformance and a recent personnel change.
The plan is seeking firms to manage a total of $100 million.
The plans previously agreed to move their active domestic large-cap growth equity asset class to a passive mandate in December.
The plan made several changes to its manager watch list at a recent meeting.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The plan made the manager change due to performance issues with the incumbent.
The plan will move the assets with the state investment trust.
The plan rehired its incumbent after finalist interviews.
The pension plan hired an all-cap core equity manager to handle two mandates within its international equity portfolio yesterday.