Small-Cap
The retirement system swapped out its domestic small-cap value manager in February.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The retirement fund replaced its small-cap value and small- to mid-cap growth mandates with a pair of core managers last month.
The hire concluded a domestic small-cap value equity replacement search from earlier this year.
The plan moved more than $70 million into passive strategies at its February meeting.
The plan also hired two credit managers in the fourth quarter.
The plan approved the two manager searches at a board meeting yesterday.
The retirement association will look to fill out its new international small-cap equity allocation with a hire next quarter.
The plan terminated the firm after closed session deliberations.
The plan is considering replacing an underperforming domestic equity manager and is also asking for a list of potential private equity options.