The retirement system made three private equity commitments for pacing purposes yesterday.
The new hires will help lead Ceres Partners’ private equity strategy.
The district last issued an investment advisor RFP in 2018.
The pension plan replaced its global large-cap growth equity and domestic core-plus fixed-income managers in the second quarter.
The selected firm will serve an initial one-year term beginning on Jan. 1.
The agency expects to commence a contract on July 1.
The funds surpassed their respective targets.
The retirement fund currently works with fixed-income consultant RVK.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
The pension plan committed up to $80 million to a new manager relationship.