Searches And Hires
The plan approved retaining up to $10 billion in liquid markets exposure through the program at its investment committee meeting yesterday.
The new consultant was hired at a board meeting today following an invitation-only search initiated earlier this year.
The two finalists were selected yesterday and will interview with the plan’s board in November.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
The new allocation increases its fixed-income target at the expense of domestic equity.
The plan will also receive an infrastructure search report next month.
The pension plan agreed to increase its global equities target by reducing its global private equity target from Oct. 1 through Dec. 31, 2024.
The system is seeking a manager to handle its portfolio, search for new investment managers, develop its investment policy and review its asset allocation, among other responsibilities.
The pension plan’s hedge fund committee considered four commitments and a manager termination at its meeting this month.
The plan received information on a total of 15 managers at its meeting today.