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The retirement fund terminated three managers at last month’s investment committee meeting.
The retirement system is cutting ties before its current manager shuts down its alternative equity team.
The transaction is slated to close in the third quarter.
The plan has now hired a total of 12 new international equity managers this year.
The retirement system terminated its incumbent international small-cap core equity manager this month due to personnel turnover.
The new role will continue Variant’s expansion into the institutional market.
The search stems from a manager termination approved in September.
The city is seeking the services on behalf of its $8 million 457 deferred compensation plan.
The commitments will target the non-coastal regions of the U.S.
The city is seeking an investment consultant for its two self-insured trust funds.