New plan approved both interim and long-term asset allocation targets and hired two passive managers to assist with an impending transition of assets.
Plan placed its domestic large-cap growth equity manager on watch last month due to consistent underperformance compared to the benchmark.
The plan is looking to hire a domestic large-cap growth equity manager to complement an existing firm.
The recommendation was part of a domestic equity portfolio structure review presented at a board meeting yesterday.
Plan approved up to $405 million in new alternatives commitments this week.
Plan added a $50 million follow-on credit commitment at this week’s board meeting.
Plan committed $1.5 million to a new senior direct lending commitment following review of a search report last week.
The fund will split its consultant relationship into separate general consultant and real estate consultant relationships.
The plan made its first private equity commitment for 2021 and is targeting $35 million for the year as part of its pacing plan.
Plan will issue RFPs for private equity and private debt managers following approval this week.