Mid-Cap
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The plan also placed a domestic equity manager on watch due to underperformance.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The plan also removed a manager from the watch list.
The plan hired its incumbent for a new seven-year term.
The plan has transitioned its active domestic mid-cap equity assets to a passive manager.
The plan will receive information on three real estate managers at its November meeting, which will also see a presentation from an underperforming domestic equity manager.
The plan’s investment consultant recommended the termination due to the firm’s underperformance.
The pension plan hired two equity managers and replaced its existing money market manager in the second quarter.
The retirement system is set to issue RFPs for international equity and emerging markets equity managers next year.