The pension plan introduced a 10% private markets target, which consists of one-third real estate/real assets, last year.
The retirement plan replaced its domestic core-plus fixed-income manager yesterday.
The pension plan has hired a new domestic large-cap value equity manager to handle $375 million.
The retirement system approved a $60 million public real assets commitment in May.
The search is due to the upcoming contract expiration of incumbent Empower Retirement, which is invited to rebid.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The authority received three proposals in response to an RFP issued in April.
The pension plan introduced a 2% target to real estate debt as part of a new asset allocation policy adopted last month.
The head of U.S. high-yield fixed-income will retire in March after a 30-year tenure with the firm.
The pension plan agreed to keep its executive director on paid administrative leave through September at Friday’s board meeting.