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The city is searching for a firm to administer and provide investment management services for its pension trust.
The pension plan disclosed a private equity commitment made last month at yesterday’s board meeting.
The plan made an up to $50 million commitment to an existing relationship at its meeting last week.
The plan will also issue RFPs for global fixed-income and domestic small-cap core equity managers.
The plan currently has two international small-cap equity managers.
The plan now has two investment officers focused on ESG.
The position will report to Director of Private Equity Allen Waldrop.
The search will be conducted due to the upcoming contract expiration of incumbent Albourne.
He joined the plan in 2021 from a pension plan in Virginia.
The selected firm will provide continuous review of the plan’s investment policy statement, maintain a broad database of investment managers, assist in investment manager searches, prepare monthly reports and more.