Searches And Hires
The plan is looking to establish a roster of investment consultants.
The plan committed to two private credit funds at a board meeting last week.
The plan’s investment consultant is recommending swapping for higher conviction managers.
The plan is seeking managers to handle a total of $5.9 billion.
The retirement fund will shift the $200 million mandate to a passive account at least initially.
The town is seeking a firm or firms to provide investment advisory services for its investment portfolio, which is currently managed by staff.
The retirement system replaced its Standard & Poor’s 500 Index Fund manager to cut costs in July.
The plan also made two private markets commitments today.
The consulting firm is conducting the search on behalf of a public fund client.
The authority last conducted a similar search in 2020.