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The funds are being moved to an international index fund managed by Fidelity Investments.
The plan approved a consultant switch at a board meeting today.
The search will be for index products covering “various strategies with differing fund and account types and across numerous geographies and markets.”
The fund closed with over $4 billion in commitments, exceeding its $2 billion initial target.
The termination recommendation stems from fixed-income structural changes approved last summer that eliminated sub-asset class targets in core-plus and high-yield.
Global equity represents a new asset class for the retirement system.
The value-add real estate manager hired a new head of acquisitions for the Eastern region.
Jean-Charles Sambor leads a new six-person emerging market debt team as a complement to TT’s equities franchise.
The plan’s board will hear a recommendation to switch to outsourced cio services with a new firm next week.
The private equity firm recently hired a managing director to serve on its investment team.