Searches And Hires
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.
The retirement system will conduct searches for international small-cap equity, high-yield fixed-income and bank loan managers.
The retirement fund is seeking managers to handle between $150 million and $350 million.
The pension plan and trust selected a new consultant in the third quarter following finalist interviews held at a special board meeting.
The searches are required to comply with state procurement requirements.