Small-Cap
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.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The retirement plan recently terminated two underperforming domestic equity managers.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
