Searches And Hires
The foundation has issued an RFP seeking an investment manager to advise on asset allocation and investment selection for standard due diligence purposes.
The college savings plan approved the search last week and expects to issue an open-invitation RFP next month.
The plan will fund the new active manager from its index allocation.
The fund approved restructuring its real estate portfolio in favor of a core-satellite portfolio with a core mandate and two to three satellite managers and also added two 130/30 managers to create a market cap and style neutral portfolio structure.
The pension plan recently committed $275 million total to two funds and terminated existing convertibles and real estate debt strategies.
The retirement system will interview three firms for a $20 million mandate.
The plan interviewed four finalists at its board meeting this week.
Plan is conducting the search to fill a 3% target to the asset class.
The plan is looking to potentially replace its incumbent due to performance issues.
The plan hired a new firm to provide custodial and index management services.