Domestic Equity
The plan is looking to hire a small- to mid-cap growth equity manager to handle $85 million.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.
The fund has narrowed its search for a new global equity manager for its portfolio to three finalists and selected a firm in its domestic large-cap growth equity manager search at its board meeting this week.
The plan last conducted a similar search in 2016.
The pension plan will consider hiring two domestic large-cap growth equity managers later this month as part of an ongoing shortlist search.
The plan is seeking passive large-cap equity providers and is also interested in firms with passive small-cap offerings.
The plan concluded a domestic large-cap growth equity manager search in the second quarter.
The trust split its domestic large-cap value equity allocation with an additional manager hire last quarter.
The plan’s incumbent domestic large-cap growth equity manager had been on watch due to underperformance following the departure of its portfolio manager.
The retirement system’s general investment consultant will return to next month’s board meeting with an international small-cap equity search.