Small-Cap
The incumbent domestic small-cap growth equity manager had been on watch due to personnel changes and underperformance.
The decision followed finalist interviews with two firms at last month’s board meeting.
The plan’s initial priority will be to conduct a global core/value equity strategy search to compare with an existing investment manager.
The plan expects to approve three recommended finalists for future interviews at this week’s board meeting.
The pension system hired a new manager after closed session deliberations at a meeting this week.
The plan also concluded its small-cap growth search at today’s board meeting.
The retirement system also recently added private markets commitments totaling $26 million.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The retirement system also eliminated its target allocation to multi-asset class solutions last month.
The retirement fund terminated two equity managers and disclosed commitments totaling $1.7 billion in August.