Searches And Hires
The system approved private equity and real assets commitments with existing investment managers within its endowment at its board meeting last month.
The system selected two managers to wrap up its search for firms to provide lead record keeper, investment, administrative and participant services for its more than $5 billion in retirement assets.
The selected firm will serve for an initial one-year term beginning on July 1.
The water district conducted a similar search process for the services on behalf of its short-term liquidity portfolio in 2019.
The city is seeking a firm to manage a portion of its cash portfolio.
The retirement plan committed $20 million to a fund after narrowing a search from a group of 20 RFP responses.
The hires will conclude an RFP process that began in January.
The pension plan will conduct a search for its in-state private markets program and also recently hired a high-yield fixed-income manager.
Pension fund staff will conduct further review the universe of active emerging markets ex-China funds as part of an expected search request later this year after the board agreed to divest its current passive allocation to the asset class from the country.
The commitments include a first time relationship for the plan.