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The investment consultant will advise on the county’s deferred compensation plan and OPEB plan.
Firm closes its second fund with total commitments of approximately $1 billion.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The asset class will represent a new investment for the plan.
The plan discussed three commitments last quarter totaling $75 million.
The plan is seeking a firm to provide the services for its $10 million in assets.
The plan’s current state investment officer is retiring after almost nine years in the role.
The university rehired its incumbent operating funds manager after issuing an RFP at the beginning of the year.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
The strategic plan calls for committing $300 million to the asset class.