Non-U.S. & Global Equity
Plan is searching for a multi-asset credit manager to fill a maiden allocation to the asset class.
The plan made the hires after restructuring its international equity and U.S. fixed-income manager portfolios.
The plan will consider multi-asset credit manager recommendations in March and terminated mandates with GMO and MetLife last week.
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.
Plan approved two international large-cap equity manager hires after restarting a search last year.
The firm had been on watch since the third quarter of 2019 due to underperformance.
The plan will target 5% each to the new asset classes.
The plan moved an emerging markets equity mandate to a passive account while it determines its long-term direction for the assets, which could ultimately remain passive.
The termination resulted from a public equity structure review presented by its general investment consultant on Wednesday.
The plan hired a global equity manager to replace its incumbent, which was liquidated this summer.