Mid-Cap
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The retirement system made domestic mid-cap growth and value equity manager changes this month.
The plan selected the firm to handle roughly $9 million following finalist presentations at today’s board meeting.
The plan expects to hire a new domestic mid-cap growth equity manager later this month.
The plan also recently replaced its domestic mid-cap growth equity manager and is nearing a small-cap value manager hire.
The plan is seeking managers to replicate domestic small-cap and mid-cap equity indexes.
The plan’s current mid-cap and small-cap managers are under review.
The board has been preparing to conduct the searches as it works toward a new asset allocation approved in 2021.
The pension plan will interview three firms at its April board meeting.
The pension plan hired the manager as part of a new domestic equity structure.