Searches And Hires
The plan made the manager change due to performance issues with the incumbent.
The authority is slated to select a firm at its board of commissioners meeting in June.
The searches stem from a new asset allocation and international equity structure review approved in February.
The plan is seeking managers to handle a total of $135 million.
The search is being conducted to diversify the program’s investment lineup.
The plan also received a private credit pacing plan at its meeting yesterday.
The retirement system made commitments to one firm for private equity and private debt.
The plans are seeking a firm to provide a full range of investment advisory services.
Six foundations were among 16 early investors to commit to a Western investment manager’s second private credit fund, which aims to provide U.S. farmers with tailored loans.
The fund will consider consolidating its public credit portfolio into a passive U.S. aggregate bond index to improve operational efficiency, reduce fees and reduce active risk at its board meeting this month.