Domestic Equity
The plan will fund the new active manager from its index allocation.
The Santa Monica, Calif.-based outsourced cio firm is overweight on asset classes that capitalize on a strong U.S. economy buoyed by strong economic and consumer activity.
The retirement system is seeking a domestic mid-cap growth equity manager to handle a $12 million mandate.
The Lone Star State retirement fund terminated one equity manager and placed another two on watch this week.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The plan expects to interview two finalists at its November investment committee meeting.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in May.
The plan conducted the searches due to mandates impacted by the Energy Discrimination Act of 2022.
The pension plan hired two domestic large-cap growth equity managers as part of an ongoing shortlist search and terminated two existing managers.
The plan approved the elimination of an active mid-cap equity mandate that had been on watch since last year.