Searches And Hires
The community college has issued an RFP seeking an investment advisor to oversee and manage its portfolio, which is currently allocated exclusively to public domestic and international equities and public fixed-income assets.
The RFPs were approved at last month’s board meeting.
The redemption is the fourth one this year for the plan.
The pension plan committed $21.25 million total to five private markets managers last month.
The city is searching for a firm to provide services for its $70 million portfolio.
The firm underperformed for two consecutive calendar quarters.
The firm is winding down after losing significant assets in November.
The selected investment consultant will assist with an upcoming record keeper search.
The pension plan aims to commit $700 million to private equity next year and placed three managers on watch at its board meeting last week.
The RFPs will seek managers to handle 10 different strategies.