Searches And Hires
The fund will consider hedge fund and infrastructure commitments to help reach its target asset allocation at its May 31 board meeting.
The foundation is considering hiring an investment manager or outsourced cio to help align its investment portfolio with its mission of expanding local access to music education.
The changes stem from a new global equity manager structure.
The incumbent international large-cap value equity manager had been on watch due to underperformance, asset outflows and organizational changes.
The city’s OPEB and scholarship plans are also searching for a U.S. small-cap core equity manager.
The search is being conducted to comply with standard state procurement laws.
The plan has issued RFPs seeking core infrastructure and core real estate funds.
The plan will also receive a private credit portfolio review at today’s board meeting.
The commitments represent new manager relationships for the council.
The plan is looking to invest $10 million each with private equity and opportunistic fixed-income managers.
