Small-Cap
The plan hired the firm for an $8 million mandate at its October board meeting.
The search is to potentially replace a current underperforming manager.
The plan’s micro-cap manager will now manage small-cap mandates.
The plan made a hire in its international small-cap equity manager search in July.
The plan will interview finalists in November.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The plan elevated its core-plus bond manager to watch status.
The plan has current managers in the two asset classes.
The plan will fund the new active manager from its index allocation.
The Lone Star State retirement fund terminated one equity manager and placed another two on watch this week.