Searches And Hires
The retirement system was scheduled to consider domestic large-value equity alternatives to incumbent GAMCO Investors due to concerns over succession planning.
The $50 million in total commitments is subject to board approval next week.
The plan will seek a global equity manager to equitize upcoming proceeds.
Interested firms must be raising at least $300 million in commitments.
The plan will reduce its domestic large-cap growth exposure by eliminating an existing manager.
The deferred compensation plan is looking to create a bench of qualified investment managers.
Five total firms were interviewed at a board meeting yesterday.
The fund received a total of six bids in its private markets consultant search.
The retirement system recently added four private markets commitments totaling $32.6 million.
The foundation added three actively managed fixed-income strategies, including two with new managers, in an effort to produce a higher return from its bond portfolio.