Passive Equity
The plan diversified its international equity portfolio by swapping a growth manager for a value manager this week.
The plan is seeking both active and passive managers to handle up to $10 million.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The searches comply with standard state procurement laws.
The plan also concluded its real estate and passive manager searches.
The plan terminated its active international value equity manager in December due to underperformance.
The plan could not reach enough votes to approve rehiring its incumbent private equity consultant.
The plan will consider hiring two international equity managers to handle up to $700 million total this week following a search from last year
The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
The plan conducted a similar search in 2021 that did result in any hires.