Searches And Hires
The state agency overseeing 11 higher education institutions is seeking a firm to provide investment, banking and credit card processing services.
The retirement system committed to an existing private debt manager relationship in the third quarter.
The deferred compensation plan recently replaced a domestic small-cap value equity manager that had been on watch since 2024.
The retirement fund will interview two firms to handle the new allocation.
The treasury first discussed the search last year for its $1.7 billion liquidity and $4.2 billion reserve accounts.
The pension plan disclosed commitments totaling $1.5 billion in the fourth quarter.
The pension plan committed up to $65 million total to private credit and private markets managers yesterday.
The three firms will vie for a $25 million mandate next month.
The request for expressions of interest has been launched to keep pace with plans to build out the investment fund’s private equity portfolio.
The retirement system’s incumbent consultant was last rehired in 2019 after a similar search.