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Hire will expand the company’s product offerings to include vehicles for real estate equity investments.
The plan hired a new general investment consultant after interviewing three finalists.
The termination follows a recent downgrade from the plan’s investment consultant.
The plan, which eliminated target allocations and terminated a manager within its stable value fixed-income option today, will see its executive director depart on Dec. 2.
The plan’s general investment consultant will review an index search as well as potential active manager candidates at a meeting next month.
He will identify growth opportunities in the market and strengthen the firm’s positioning.
They will serve as chief talent officer and a senior investment team member, respectively.
He will focus on scaling and strengthening Vision Ridge’s asset management and governance capabilities.
Many nonprofit investors, investment advisors and managers agree that an active equity strategy that can invest in China is the key to capturing returns above U.S. equities.