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The plan committed to a fund specializing in aerospace and defense earlier this month.
The new hire will lead ORIX Corporation USA’s capital formation strategy.
The deferred compensation plan also replaced its multi-strategy real estate manager last week.
The firm’s sixth life sciences fund has closed at its $6.3 billion hard cap.
The state pension plan also approved three alternatives commitments at a meeting last week.
The retirement fund made up to $170 million in alternatives commitments last week.
Pearce is a managing director in Cambridge Associates’ endowment and foundation practice, tasked with conducting manager due diligence and developing investment strategies for clients with mission-related, ESG or impact investment objectives. He took the time to answer five questions with FIN News.
The retirement fund added a dedicated 5% allocation to the asset class earlier this year.
The retirement plan replaced an existing manager due to performance reasons.
The investment consulting firm promoted one of its investment analysts to consultant.