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The pension fund also concluded an emerging market debt manager search with a hire at today’s board meeting.
The deferred compensation plan has replaced its domestic large-cap core equity manager, which had been on watch due to underperformance.
The selected firm will service the county’s investment portfolio and the county school district’s general and bond portfolios.
The “overwhelming majority” of LP participants in a recent survey planned to either increase or maintain their allocation to alternative investments in the next year.
The new hire will focus on deepening and expanding the firm’s relationships with existing and prospective institutional investors and consultants.
The plan will split senior private equity responsibility moving forward.
The plan has transitioned away from a general investment consultant relationship.
The termination request stems from the ongoing issues related to the SEC investigation and leave of absence by Co-CIO Ken Leech.
The search is open to value-add and opportunistic real estate strategies.
The firm appointed three new senior v.p.s to its U.S. institutional team.