Searches And Hires
The city is seeking fixed-income management services for roughly $184 million in assets.
The asset class represents a new one for the plan, which is targeting managers to handle between $3 million and $5 million.
The selected firm will manage two fixed-income portfolios valued at roughly $937 million.
The retirement system is looking to make a first-time investment in the asset class.
The incumbent firm is welcome to rebid in a search being conducted as part of a review of provider services.
The RFP will be launched in the second half of next year.
The plan’s incumbent domestic large-cap growth equity manager had been on watch due to underperformance following the departure of its portfolio manager.
Plan is seeking a third-party consulting firm to evaluate investment practices and performance.
The searches are part of an implementation plan following approval of a new asset allocation in May.
Plan bolstered its private equity and private infrastructure allocations with commitments to two existing manager relationships.
