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The plan hired a domestic large-cap value equity manager to replace an all-cap value manager at its May 17 board meeting.
The new hire previously worked at SVB Capital and BlackRock.
Plan first invested with the real estate manager in 2012.
He will be responsible for client communications, new business development, sub-advisory partnerships and strategy.
He will implement investment strategy for Mesirow Strategic Fixed-Income.
The manager has underperformed its Russell 1000 Growth Index.
The transaction is expected to close in the second half of the year.
They will be responsible for the evaluation, due diligence and execution of new investments.
He will focus on investments in B2B software and technology-enabled services.
She is responsible for expanding the firm’s presence on the West Coast.