Searches And Hires
The foundation is seeking investment management services for its portfolio and the selected firm will be tasked with investing funds and other negotiable assets to produce maximum total return.
The commitments include two new relationships for the council.
The new manager will be partially funded by reducing the portfolio of the plan’s incumbent large-cap core manager.
The plan’s former executive director has retired.
The plan’s incumbent manager is currently on watch for performance reasons.
The search is open to buyout, growth equity and venture capital strategies.
The plan expects to conclude the search process in the third quarter.
The plan’s private equity committee considered three commitments totaling $90 million this month.
The plan committed $75 million to a new manager last week.
The plan has worked with its incumbent general investment consultant since 2008.