Searches And Hires
The pension plan terminated one of its international large-cap core equity managers due to underperformance.
The replacement is due to recent organizational concerns at the incumbent firm.
The retirement system will revisit a search at its October meeting following finalist interviews held in August.
The plan last conducted a search for the services in 2019.
The plans currently utilize MissionSquare Retirement.
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.