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The fund selected a firm to provide low duration/short-term fixed-income exposure over three other managers following finalist interviews held at its board meeting last month.
The 529 plan has issued an RFP seeking an investment manager due to the upcoming contract expiration of its incumbent manager, which has been providing the services since 2003.
The plan is conducting the search as part of a review of all major contracts.
The plan is looking to hire three managers to handle a total of more than $1.6 billion.
The commitments to three firms represent new relationships.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The investment advisor will serve for a three-year term.
Geeta Kapadia is Fordham University’s second cio, tasked with overseeing and managing its approximately $1 billion endowment and building out its investment office. She took the time to answer 5 Questions, plus a few extra, with FIN News.
The state investment management board is searching for a long-only separate account manager for the asset class.