Searches And Hires
A Midwest retirement system is seeking consulting services on behalf of its deferred compensation plan.
The plan is monitoring the firm due to senior fixed-income leadership transition.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The plan concluded its private equity manager search conducted for pacing purposes.
The retirement system will also announce a new executive director next week.
The commitment will help move the retirement system closer to its 30% non-core real estate target.
The plans currently work with general investment consultant Innovest Portfolio Solutions.
The $300 million in total commitments went to existing managers.
The incumbent consultant was awarded a new eight-year contract.
The plan disclosed commitments totaling $300 million at a meeting last month.