Passive Equity
The plan also disclosed a pair of private markets commitments.
The search aims to expand the geographic focus of the plan’s existing factor portfolio and provide alternatives to building its existing four underlying factor exposures.
The plan is looking to fill a 5% target to liquid real assets within its OPEB portfolio approved over the summer.
The search follows a recent portfolio manager departure from its incumbent manager.
The selected firm will manage a Russell 1000 Growth Index mandate at least initially.
The plan first hired the domestic large-cap growth equity manager in 2012.
The plan has begun its search seeking a Standard & Poor’s 500 Index manager.
The plan will issue RFPs within the next two months due to standard state procurement laws.
The plan is looking to invest up to $70 million total to passive equity managers.
Draft RFPs will be reviewed next month for scheduled publication in January.