Searches And Hires
The plan’s real estate committee approved four commitments in August and its hedge fund committee terminated an existing mandate in July.
The hire concludes a search launched in April due to the contract expiration of the district’s incumbent.
The city last issued an RFP for the services in 2018.
The city is searching for a firm to provide investment consulting services for its $61 million deferred compensation plans.
The county treasurer’s office expects to issue an intent to award notice in December.
The fund will consider adding an upper middle market direct lending strategy to its portfolio as part of its buildout of some illiquid asset classes.
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The plan finalized an additional $15 million commitment earlier this week.
The watch placement comes as the firm’s global cio resigned last month.
The selected firm will establish a Section 115 Trust for the city over the next 60 to 90 days.