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New York City Comptroller Brad Lander has asked for an internal review after its former cio joined a private equity firm that the city’s five pension funds have a relationship with.
The plan hired a new international equity manager at its board meeting last week.
Plan expects to receive a recommendation in October.
The plan committed $105 million for pacing purposes.
Plan’s hedge fund committee considered terminating a hedge fund manager and adding two commitments last week.
The plan had issued an RFP for single strategy and emerging managers-of-managers to complement or replace the incumbent in January.
The plans’ incumbent was most recently rehired in 2017.
Plan retained its incumbent consultant over proposals from four other firms.
Plan’s new asset allocation policy will introduce a 10% target to domestic small-cap equity.
Agency is searching for a firm to help manage its $270 million portfolio.