Searches And Hires
The plan’s investment consultant recommended hiring specialized managers for its non-U.S. equity portfolio.
The retirement system also made three commitments at its investment committee meeting last week.
The pension fund has issued RFPs seeking value-add real estate and real estate debt managers.
The board also disclosed a private equity commitment at today’s investment committee meeting.
The plan last conducted a similar search in 2021.
The authority’s investment portfolio is currently held in money market funds and various U.S. securities.
The plans currently work with general investment consultant Innovest Portfolio Solutions.
The firm will manage a total of $70 billion between the two corporate plans.
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
