The trust’s current outsourced cio was first hired in 2019.
The plan received a total of four proposals in its general investment consultant search.
On Monday, Tennessee Attorney General Jonathan Skrmetti filed the first-of-its-kind consumer protection lawsuit against the world’s largest asset manager, BlackRock Inc. Tennessee’s complaint alleges that Blackrock made false or misleading representations to current and potential Tennessee consumers about the extent to which Environmental, Social, and Governance (ESG) considerations affect BlackRock’s investment strategies,
The hire concludes a search to replace a current underperforming manager.
The city is seeking a bundled provider for two retirement plans totaling more than $1 billion each.
The city is searching for a firm to administer and provide investment management services for its pension trust.
The plan will also issue RFPs for global fixed-income and domestic small-cap core equity managers.
The plan currently has two international small-cap equity managers.
The plan now has two investment officers focused on ESG.
The new asset allocation introduces a 6% target to hedge funds.