Searches And Hires
The plan hired a firm to handle its maiden commodities allocation and committed to an existing private equity manager yesterday.
The plans were slated to receive an ESG manager search book this week and made several changes to their passive equity portfolio last month.
The system was expected to review three private equity secondary fund-of-funds managers for its portfolio this week after beginning consideration of the strategies late last year.
The plan opted to retain its incumbent investment consultant and 529 industry consultant following searches from the first quarter due to the contract expirations of each firm.
The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.
The investment consultant will advise on a new venture capital program.
The commitments include two new manager relationships.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The plan committed $134.4 million total to three investment managers last week.
The plan made private markets commitments totaling $15.8 million and appointed an executive director/cio last month.