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The pension plan made commitments totaling $110 million last week.
The search is part of an asset allocation implementation plan.
The plan added the firm to complement its existing domestic small- to mid-cap core equity manager.
The fund was oversubscribed and surpassed its fundraising target.
The retirement system will consider placing its international small-cap core equity manager on watch at Friday’s board meeting.
Asset allocation remains the biggest factor in fees paid by institutional investors, Callan’s 2025 Cost of Doing Business Study shows.
The retirement system has approximately $159 million allocated to its incumbent managers.
A total of 23 firms submitted proposals to the retirement system’s domestic large-cap core equity manager search.
North Haven Capital Partners VIII closed with $3.2 billion in total capital commitments.
The borough is seeking investment, banking/custodial, actuarial and administrative services for its pension plan.