Non-U.S. & Global Equity
Plan shifted its mandate with a diverse-owned international equity manager to its passive allocation in the asset class.
The plan will include its two incumbent international value equity managers in a search to review the asset class universe.
Plan intends to issue an RFP to seven to 10 firms in June after narrowing the universe to 15 potential candidates through screening.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan diversified its international equity portfolio by swapping a growth manager for a value manager this week.
The plan is seeking an international equity manager to handle a $35 million allocation.
A total of up to $1.5 billion is expected to be awarded in the search.
Plan continues working toward executing a transition of assets away from the state fund.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan’s investment committee hired an emerging markets core equity manager and approved two credit commitments last week.