Searches And Hires
The foundation approved a commitment to a buyout private equity strategy with a new investment manager in the second quarter.
The plan approved the elimination of an active mid-cap equity mandate that had been on watch since last year.
The railway’s board is searching for an investment advisor to help implement a trust fund, which will have an initial $1.6 billion allocation.
The pension plan recently committed approximately $2.2 billion total to eight funds and terminated an existing credit strategy.
The plan intends to issue RFPs for active core fixed-income and domestic small-cap value equity managers next month.
The plan has not made a new commitment to private equity since 2014.
The county expects to select a firm at its Oct. 9 governing committee meeting.
The plan is looking to hire a small- to mid-cap growth equity manager to handle $85 million.
The plan ended a 30-year relationship with a core-plus bond manager after changes from recent meetings reported out of closed session.
The search is being conducted to comply with state regulations.