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The termination, which was recommended by the plan’s general investment consultant, stems from performance reasons and a key personnel departure.
The fund received $4.8 billion in aggregate capital commitments, more than doubling the size of its predecessor fund.
The plan took action on two search reports provided by its general investment consultant at its board meeting this week.
The pension plan terminated one of its international large-cap core equity managers due to underperformance.
The replacement is due to recent organizational concerns at the incumbent firm.
The retirement system will revisit a search at its October meeting following finalist interviews held in August.
The pension plan’s cio and acting executive director have both resigned following the dismissal of the executive director earlier this week.
The plan last conducted a search for the services in 2019.
The firm appointed its first global cio as well as a new president and ceo.