Searches And Hires
The plan selected a pair of firms to fill a maiden allocation to the asset class.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The city last issued an investment consultant RFP in 2020.
The foundation expects to conduct a search for an investment advisor for its endowment later this year or early next year as its current advisor has struggled to recommend women- and minority-owned or led investment managers.
The plan concluded a domestic large-cap growth equity manager search in the second quarter.
The trust split its domestic large-cap value equity allocation with an additional manager hire last quarter.
The plan’s new private markets allocation will consist of one-third private equity, one-third private debt and one-third real estate/real assets.
MissionSquare Retirement currently provides record keeping and administrative services for the authority’s plans.
The selected general investment consultant will serve from Oct. 1 through Sept. 30, 2024.
The county is looking to hire one or more fixed-income managers to handle $600 million.