Small- to Mid-Cap
The plan is looking to hire one manager that is benchmarked against the Russell 2500 Index.
The pension plan has replaced its incumbent domestic small- to mid-cap value equity manager, which had been on watch.
The plan launched two manager searches after approving a new asset allocation last month.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The pension plan liquidated its approximately $210 million domestic small- to mid-cap growth equity and made commitments totaling $120.5 million in November.
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.
The hire concludes a search to replace a current underperforming manager.
The RFPs will seek managers to handle 10 different strategies.
The selected firm will replace an incumbent that was terminated earlier this year.
The plan’s current managers handle aggregate mandates of $25.6 million.