The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
The firm had been on watch since the third quarter of 2019 due to underperformance.
The plan recently increased its domestic equity targets by reducing its floating rate corporate loans target.
She joined the firm in 2020 as a principal.
The transaction marks iM Global Partner’s ninth partnership.
The plan will target 5% each to the new asset classes.
The plan approved a new asset allocation for its Core Trust Fund yesterday.
The plan committed $910 million total to one new manager and two existing managers this week.
The commitment will fit into the debt-related special situations bucket of the plan’s private equity portfolio.