The plan terminated an international equity manager that saw a personnel departure last year.
The search is required per state regulatory requirements.
The plan also recently replaced its domestic mid-cap growth equity manager and is nearing a small-cap value manager hire.
The redemptions stem from qualitative issues within the firm’s investment team.
The plan’s sole emerging markets equity manager was first hired in 2018.
The plan expected to begin the search to comply with state regulatory requirements.
The searches stem from a new asset allocation and international equity structure review approved in February.
The plan is seeking managers to handle a total of $135 million.
The position had been vacant since September.
The plan also received a private credit pacing plan at its meeting yesterday.