Searches And Hires
The pension plan has directed its staff and general investment consultant to conduct a targeted RFP process to replace a terminated international small-cap equity manager.
The West Coast city does not currently utilize an investment advisor.
The pension plan committed $100 million total to an existing private equity manager relationship last week.
The fund is looking for opportunities to directly invest in companies based in the state as part of its plan to emphasize the state, identifying and developing new relationships with firms in the state, including emerging managers, as well as seeding strategies created in the state.
The institution approved a commitment to a private equity fund focused on the intellectual property of musical artists in August.
The current consultant will see its contract expire next year.
The deferred compensation plan replaced its international large-cap value equity manager yesterday due to underperformance.
The upcoming search complies with standard state procurement laws.
The pension plan approved a new asset allocation policy that introduced a new asset class and eliminated two existing asset classes last week.
The pension plan made a $20 million credit commitment in the third quarter.