Passive Equity
The restructuring resulted in the termination of two active managers.
The plan’s new U.S. equity head joins from an investment consultant.
The plan hired a new firm to provide custodial and index management services.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in May.
The plan conducted the searches due to mandates impacted by the Energy Discrimination Act of 2022.
The pension plan hired two domestic large-cap growth equity managers as part of an ongoing shortlist search and terminated two existing managers.
The pension plan will consider hiring two domestic large-cap growth equity managers later this month as part of an ongoing shortlist search.
The plan rehired its incumbent managers following searches launched earlier this year.
The plan is seeking passive large-cap equity providers and is also interested in firms with passive small-cap offerings.
The plan has issued RFPs seeking an active core fixed-income manager as well as index managers.