Small-Cap
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.
The retirement system is seeking active global all-cap, large-cap, mid-cap and small-cap equity managers.
The plan’s current international small-cap equity manager has been on watch since early 2023.
The board has hired two domestic equity managers to replace existing managers across its three investment plans.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.