Alternatives
The terminations include three underperforming managers.
The fund will consider committing $50 million to an existing private equity manager within its portfolio as staff recommended adding a strategy with General Partner stakes.
The plan also added a pair of commitments to a new private equity manager relationship.
The firm hired a principal, head of capital formation and investor relations to oversee relationships with institutional and family office investors as well as set the distribution strategy for its investment products.
The plan was scheduled to consider RFPs for international and domestic small- to mid-cap growth equities this month.
The state retirement system also disclosed several private markets commitments at last week’s board meeting.
The retirement fund added one new commitment and increased another pair last month.
The recommended hire of an additional active core-plus manager comes after the decision to implement an all-active approach.
The fund added commitments to private equity, real estate and private debt funds with existing managers within its portfolio in the second half of 2025.
The state’s technology and research fund made a new $10 million commitment to a venture firm to promote technological innovations regionally.