Mid-Cap
Decision follows a partial acquisition of the incumbent firm that has left its equity team with $800 million in assets under management.
The plan is conducting a mid-cap value manager replacement search as its incumbent manager has lost assets and the plan’s assets made above 40% of the investment product.
The plan completed a search to fill its maiden domestic mid-cap growth equity allocation this week.
The plan increased its core bond target as part of asset allocation changes approved at last week’s meetings.
The plan will conduct on-site visits with five firms before presentations and selection slated for its March board meeting.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
The plan has launched its search seeking domestic mid-cap growth equity managers ahead of its incumbent’s contract expiration.
The plan is conducting the searches to comply with state procurement law.
The plan will begin with a mid-cap growth equity manager search in January.
Plan’s new domestic mid-cap value equity manager will handle a 2.5% allocation.
