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The transition stems from the recent leave of absence of its co-cio following recent receipt of a Wells Notice from the Securities and Exchange Commission.
The search is due to the upcoming contract expiration of incumbent Empower Retirement, which is invited to rebid.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The plan was scheduled to issue the RFP as it nears the contract expiration of its incumbent.
The plan made manager hires this week after introducing new target allocations of 3% each to infrastructure and international small-cap equity.
The authority received three proposals in response to an RFP issued in April.
The firm also promoted two to managing director on its investment team and added four managing directors to its operations team.
The plan also terminated eight managers as part of a public equity implementation.
He has further advanced the firm’s efforts in the software and healthcare IT segments since joining in 2013.