Searches And Hires
The plan is seeking managers to handle $30 million.
The search was approved at the retirement association’s board meeting on Wednesday.
The plan last conducted a general investment consultant search in 2018.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The search will be for two managers to handle up to $483 million.
The retirement association made hires in its infrastructure and portfolio overlay searches over the last few months.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The plan anticipates committing up to $450 million to the asset class next year.
The search follows the plan’s termination of an incumbent manager at yesterday’s board meeting.
The pacing plan calls for between $130 million and $160 million in new private equity commitments next year.