Searches And Hires
The plan received proposals from six consulting firms.
The plan replaced its intermediate fixed-income manager due to personnel changes at the firm.
The plan hired the firm for an $8 million mandate at its October board meeting.
The plan is looking to make its second investment in the asset class.
The municipality previously worked with investment advisor Callan.
The pension plan’s investment committee approved commodities, fixed-income and private credit commitments last week.
The selected firm will assume an $86 million mandate currently handled by an underperforming manager.
The plan is seeking a firm to handle a $20 million mandate.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
The plan replaced its target date fund manager due to the firm’s underperformance.