Domestic Equity
The hires followed closed session deliberations.
The plan’s incumbent large-cap value manager is planning to shut its doors next month.
The plan is seeking index managers to handle a total of $45 million.
The retirement system also replaced two underperforming equity managers in the second quarter.
The retirement system is seeking a replacement for a recently terminated domestic equity manager.
The university revised the asset allocation for its long-term investment pool, increasing its allocation to domestic and private equity, as part of a new investment policy statement approved at its September board meeting.
The fund opted to replace its mid-cap growth investment due to underperformance.
The fund anticipates awarding five contracts in the search.
The plan is looking to invest up to $35 million across the two strategies.
The retirement system approved issuing the RFPs last month due to standard state procurement laws.