Plan has begun a search for passive investment management providers.
Plan will consider multiple mandates and ensure that diverse-owned firms are included in a search process approved at today’s meeting.
The firm will manage a 5% allocation to emerging markets that will be funded from hedge fund-of-funds and managed futures.
Plan will discuss a draft RFP for developed markets equity managers at this week’s board meeting.
The current Co-CIO is retiring at the end of the year.
Plan will seek real estate managers in the coming months and has scheduled emerging markets small-cap equity finalist interviews for August.
The search is required due to the upcoming contract expiration of its incumbent.
The new hires include two fund managers and an analyst.
Plan has launched an international small-cap equity manager search and concluded its U.S. small-cap core equity manager search with a hire at today’s board meeting.
City is seeking developed markets equity managers on behalf of its five pension funds.