Small- to Mid-Cap
The selected firm will assume an $86 million mandate currently handled by an underperforming manager.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
The plan has narrowed a search to nine international small-cap managers for interviews with staff and its consultant.
The plan is looking to hire a small- to mid-cap growth equity manager to handle $85 million.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.
The plan will also interview domestic large-cap growth managers next month, while the city’s Fire plan will interview emerging markets equity firms.
The plan terminated its domestic small- to mid-cap value equity manager at today’s meeting.
The plans are slated to discuss a potential domestic small- to mid-cap value equity manager replacement search at this week’s board meeting.
The plan completed a domestic small- to mid-cap value equity manager search launched in the fourth quarter.
The plan added $15 million in follow-on commitments across two funds in March.