Non-U.S. & Global Equity
The new manager will handle approximately $450 million.
The plan is also scheduled to request an emerging markets equity manager search in the coming months.
The pension plan hired an all-cap core equity manager to handle two mandates within its international equity portfolio yesterday.
The plan will consider new structures for its infrastructure, non-U.S. equity and real estate portfolios later this week.
The retirement plan currently has four global equity managers.
Global equity would be a new asset class for the plan.
The plan is potentially looking to replace its international developed markets equity manager.
The plan replaced several of its passive mandates with Vanguard Group at yesterday’s board meeting.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.