Searches And Hires
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The plan finalized an additional $15 million commitment earlier this week.
The watch placement comes as the firm’s global cio resigned last month.
The selected firm will establish a Section 115 Trust for the city over the next 60 to 90 days.
The fund expects to receive recommendations to add new multi-strategy hedge fund and international equity managers to its portfolio this month after making a private credit commitment at the end of the third quarter.
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.
The institution’s diverse-owned investment figures are up in 2022, funding six new investment partners that were owned by women and people of color.
The restructuring resulted in the termination of two active managers.
The plan now has two high-yield fixed-income managers on watch.
The utility authority is seeking consulting services on behalf of its deferred compensation plan.