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Trinity Street Asset Management is the tenth partner to join iM Global Partner’s global asset management family and distribution network.
The city conducted a similar search on behalf of four investment portfolios in 2013.
The termination stems from lower than expected real returns and changes to the firm’s team.
The hire completes a search launched last year following a new asset allocation approval.
The fund closed at its hard cap of $3.5 billion.
The Wellington Climate Innovation Fund closed with $385 million in commitments.
The new active core mandate will replace the pension’s passive bond allocation.
The plan also terminated an active domestic large-cap growth equity manager in December.
The plans launched a search in February due to the contract expiration of their incumbent.
The authority issued an RFQ in February after previously hiring its incumbent in 2018.
