Searches And Hires
The retirement fund added a dedicated 5% allocation to the asset class earlier this year.
The retirement plan replaced an existing manager due to performance reasons.
The plan currently works with general investment consultant Gallagher Fiduciary Advisors.
The retirement system swapped out its domestic small-cap value manager in February.
The search is open to credit opportunities, distressed debt and direct lending strategies.
The retirement fund placed domestic small- to mid-cap value and international small-cap equity managers on watch last month.
The plan hired a new international equity manager after interviews yesterday.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The retirement system also concluded its general investment consultant search in January.
The foundation added investments with three diverse managers to help it surpass its goal of allocating half of its portfolio to diverse firms.