Searches And Hires
The retirement fund currently works with fixed-income consultant RVK.
The county rehired the investment consultant that serves on behalf of its defined benefit plan, OPEB trust and LOSAP program trust.
The plan is also conducting a consultant search for informational purposes.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
The plan is looking to commit $10 million to the asset class for pacing purposes.
The pension plan committed up to $80 million to a new manager relationship.
The plan is seeking firms to handle an approximately $95 million mandate.
The firm, which seeks to lead investments in early-stage software companies at seed and series A stages, has raised more than $350 million for its inaugural fund, including a commitment from at least one large endowment.
The program will issue an RFP for the services early in the first quarter due to the impending contract expiration of its incumbent consultant, which will be allowed to rebid.
The state treasurer’s office is seeking a record keeper that can provide administration, record keeping and customer services for the program, which was effectively created through legislation in 2021.