Daily Feed
The plan will receive ESG manager search results in February.
The city has not employed an advisor in the past decade.
The new hire has previous experience in manager research at Marco Consulting Group.
The plan recently hired a consultant to assist with the search.
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The searches are being conducted to comply with state procurement laws.
The plan’s general investment consultant will report back on its due diligence meeting with the firm.
Incumbent consultant has been handling the plan’s services on a month-to-month basis since its three-year contract expired during the COVID-19 pandemic.
Davidson Investment Advisors is acquiring the mid-Atlantic based firm, which specializes in municipal and taxable fixed-income investments, in a deal that is expected to close in the first quarter of 2023.
The trust’s incumbent consultant is on a six-month contract.