The new manager will take over an approximately $86 million large-cap value strategy for the plan.

While retail investors and institutional investors often have different motivations, the average investor can learn a lot from what the giants do.

At the $79.4 billion United Nations pension fund, continuing tensions came to a head this month when the UN participant representatives to the pension board — elected representatives of 85,000 active UN staff members — wrote on December 2 to the General Assembly body that oversees the fund about their concerns on a range of issues regarding the fund’s administration and governance.

Plan terminated the investment in the third quarter and moved the assets to a long/short equity strategy.

City is seeking investment consulting services on behalf of its employees and retiree health care funds.

Plan approved a new domestic small- to mid-cap value equity manager hire at Friday’s meeting.