Searches And Hires
The plan also granted staff discretionary authority to invest in GP-led secondary transactions.
The pension plan will consider replacing its REIT manager due to the firm’s underperformance.
The foundation has committed to achieving net-zero greenhouse gas emissions for its endowment by 2050 and the strategy centers on investment in climate solutions and other climate-focused strategies as well as engagement with asset managers and others on data, disclosures and decarbonization plans.
The fund will consider adding a new private equity manager within its trust fund portfolio following a presentation from the firm at its board meeting this week.
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.