Searches And Hires
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.
The hire resulted from a new asset allocation change.
Growth, core and value styles will all be considered in the search.
A total of five firms submitted proposals to an RFP issued in the fourth quarter.
The plan also made a direct lending commitment in the fourth quarter.
The selected firm will help manage the authority’s bond proceeds.
The retirement system terminated its domestic core real estate manager after being informed of its underperformance and personnel changes in December.
The retirement fund is seeking general investment consultant services as the result of state statute, which requires they be placed out for bid at least every five years.
The plan is looking to diversify its current fixed-income bucket.
The retirement system hired three managers and made follow-on commitments to two existing strategies as part of an evergreen private debt search.
