Non-U.S. & Global Equity
The pension plan has made four equity investments totaling $850 million.
The pension fund also concluded a core fixed-income manager search with a hire at this week’s board meeting.
The plan completed a search for emerging markets small-cap ex-China equity managers in the fourth quarter.
The retirement system is seeking international equity managers to handle a mandate benchmarked to the MSCI ACWI ex-US Index.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The retirement system selected a new manager following three finalist interviews held last week.
The plan launched a search last year due to underperformance from its incumbent manager.
The retirement fund terminated three managers at last month’s investment committee meeting.
The retirement system is scheduled to select three finalists in its international equity manager search next week.
This week’s hire complements an existing emerging markets equity manager as part of an ongoing international equity portfolio restructure.