Small-Cap
There are no plans for a replacement search at this time.
The deferred compensation plan also placed its domestic small-cap value equity manager on watch yesterday.
The retirement plan transitioned its domestic small-cap growth equity allocation to passive management in the second quarter.
The plan also terminated three equity mandates as part of a domestic equity portfolio restructuring.
The retirement system also recently made private markets commitments totaling $16.5 million.
The pension system had been reviewing the incumbent as part of a search prior to the manager’s decision to close.
The plan was expected to issue a domestic small-cap equity manager RFP this week to replace an incumbent.
The plans also replaced a domestic large-cap growth equity manager due to underperformance.
The search will be conducted to replace an incumbent small-cap core manager.
The plan’s board had been in a protracted search that had initially seen Verus hired over incumbent Callan and then the search restarted.
