Searches And Hires
The search follows underperformance within the asset class.
The plan interviewed four finalists in the search last month.
The plan is replacing an existing equity manager and making its first private equity investment since 2019.
The retirement system made seven private markets commitments totaling $35.6 million last month.
The pension plan replaced a domestic large-cap value equity manager in the first quarter.
The city is seeking a provider for its four defined contribution plans.
The plan approved two private credit commitments for pacing purposes at its board meeting today.
The domestic small-cap equity manager’s returns ranked below its peer group median and the strategy had low tracking error relative to the peer group.
The pension fund hired two firms to split a 6% allocation.
The changes aim to improve portfolio quality for the retirement system’s domestic equity sleeve with several terminations and hires.
