Searches And Hires
The plan is seeking developed markets equity managers to handle a $50 million allocation.
The pension plan hired five non-U.S. equity managers and approved a new private equity portfolio structure last week.
A total of three finalists were interviewed at a meeting this week.
The pension plan approved a credit commitment with an existing manager relationship last month.
The plan’s cio and internal investment committee will be authorized to handle manager hires and terminations with some parameters/constraints.
The investment firm returned client assets as of April 30.
The pension plan’s cio recently approved two real assets commitments.
The commitment is part of an annual private equity pacing schedule.
The search stems from the upcoming Jan. 31 contract expiration of incumbent Empower Retirement.
The fund has added fixed-income, bank loan, international equity and private equity investments to its endowment in recent months as it builds toward a new strategic asset allocation adopted in the first quarter.