Searches And Hires
The fund considered terminating a high-yield fixed-income manager and launching a search for a replacement firm at its board meeting this week.
The foundation is aiming to allocate at least 5% of its portfolio to emerging managers, while also looking to add climate-solution investments as it looks achieve a net-zero endowment by 2030.
The plan made its first commitment to private debt at its board meeting yesterday.
The organization is searching for an investment consultant to assist with strategic investment planning, investment manager due diligence, investment market research, portfolio monitoring and investment performance measurement.
The county has four retirement plans totaling $441 million.
The plan’s current managers handle aggregate mandates of $25.6 million.
The search will be conducted as part of a new policy to review vendor services every five years.
Plan is seeking closed-end funds for a $10 million to $15 million mandate.
The commitments include two custom mandates.
The plan committed a total of $45 million to two private equity strategies.