Searches And Hires
The investment advisor will serve for an initial three-year term with the option to renew for two additional one-year terms.
The plan will withdraw prior to the fund’s closure in December.
The new investment consultant was hired last week following a search that was relaunched in May.
The plan will search for a firm to review its RFP process impacted by recent legislation.
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.