The plan will search for a private equity fund to investment in the new emerging sector.
The plan made a $20 million infrastructure commitment after finalist interviews at today’s meeting.
Michael Shone reflects on more than 33 years in the industry.
The plan concluded its emerging markets equity search with two manager hires.
The plan is nearing the conclusion of its domestic small-cap equity and fixed-income manager searches.
The board approved an initial allocation of $1 billion to emerging managers across multi-asset classes.
The plan will establish a search committee for a successor.
Newly released materials show a replacement search recommended by its consultant.
The plan committed a total of $175 million to two funds and hired an unnamed domestic equity manager at its meeting last week.
The plan hired two emerging markets equity managers and approved three private markets fund commitments.