Non-U.S. & Global Equity
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.
The retirement system also increased its fixed-income target at the expense of real estate.
A Texas-based deferred compensation plan will review emerging markets equity managers to replace its incumbent mandate this week.
The plan now has two active managers in its global equity portfolio.
The plan also eliminated its global equity and emerging market debt targets.