Non-U.S. & Global Equity
The plan is hoping to capture more alpha through the manager change.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.
The retirement system is seeking firms to handle an allocation ranging between $200 million and $400 million.
The retirement system will hear from three international value equity managers at next month’s board meeting.
The plan hired one international equity manager and terminated three others at this week’s board meeting.
The plan has selected four firms for further due diligence and evaluation.
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The pension plan terminated a roughly $360.5 million emerging markets equity mandate last month.
The search to fill a roughly $25 million allocation is open to both active and passive strategies.
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.