Searches And Hires
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The deferred compensation plan also hired a new target date fund provider at a meeting today.
The plan also approved $320 million in alternatives investments at this week’s meetings.
The plan’s incumbent domestic small- to mid-cap core equity manager had been gradually underperforming the benchmark.
The hire concludes a replacement search conducted by the retirement system’s general investment consultant in February.
The pension fund approved three commitments to existing manager relationships this week.
The retirement plan recently terminated two underperforming domestic equity managers.
The plan selected a fund from a search report that included both secondaries and fund-of-funds options.
The retirement plan’s current consultant agreement has been in place since 2017.
The pension system added $340 million in private markets commitments in the second quarter.
