Searches And Hires
The fund is looking to invest in artificial intelligence-native hedge funds as it finds the biggest funds have been slow to adapt.
Empower currently provides the services for the deferred compensation plan.
The plans had been slated to issue the RFP following the onboarding of new investment advisor Innovest Portfolio Solutions earlier this year.
City manager and council approval of a selected firm are scheduled for Aug. 10.
The retirement system also hired two managers in its emerging markets equity search.
The retirement system added commitments to one new and one existing manager relationship last week.
The plan also terminated an active global equity manager last month.
The pension plan eliminated its floating rate bonds target as part of a newly approved asset allocation last month.
The pension fund approved the search for one or two managers last week.
The retirement system moved to a new general investment consultant in the first quarter after cutting ties with its incumbent after roughly 15 years.
