Searches And Hires
The plan is looking to hire three managers to handle a total of more than $1.6 billion.
The commitments to three firms represent new relationships.
The investment advisor will serve for a three-year term.
The state investment management board is searching for a long-only separate account manager for the asset class.
Direct lending would represent a new strategy for the plan.
The pension fund’s 3% portfolio to the asset class is currently held in an index fund.
The plan is seeking managers to handle $30 million.
The search was approved at the retirement association’s board meeting on Wednesday.
The plan last conducted a general investment consultant search in 2018.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
