Small-Cap
An RFP was issued last February for a total allocation between $90 million and $180 million.
The retirement system approved a private equity fund-of-funds commitment to an existing manager relationship at yesterday’s board meeting.
The retirement system terminated its incumbent international small-cap core equity manager this month due to personnel turnover.
The pension plan will conduct domestic large-cap and small-cap equity manager searches this year.
This week’s hire complements an existing emerging markets equity manager as part of an ongoing international equity portfolio restructure.
The retirement plan also terminated a core-plus fixed-income manager.
The retirement system approved private markets commitments at its board meeting today.
The retirement system last conducted a similar search in 2018.
The plan expects to add eight additional non-U.S. equity managers over the next two months.
The retirement system terminated a domestic small-cap growth equity manager last month for performance reasons.