Searches And Hires
The plans last issued an RFQ for investment consulting services in 2023.
The plan hired two firms in its international equity manager search.
The commitments conclude an RFP process and were made for pacing purposes.
The search stemmed from a discussion regarding a possible restructuring of the plan’s opportunistic fixed-income portfolio at a meeting yesterday.
The pension plan terminated its domestic small- to mid-cap core equity manager in August due to underperformance.
The pension plan approved four commitments totaling $195 million at last week’s investment committee meeting.
The searches follow a review of the overall asset class this week’s meetings.
The plan swapped out an underperforming international equity manager at a meeting this week.
The hire concludes a search launched in May for best practices.
The plan is seeking strategies to replace a core-plus mandate with Western Asset Management.