Domestic Equity
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The deferred compensation plan hired a passive domestic large-cap growth equity manager to replace an active mandate last month.
The new domestic small- to mid-cap core equity allocation will complement the retirement system’s existing small-cap manager.
The retirement fund’s investment committee also restructured its domestic equity portfolio to help meet impending sustainability goals.
The pension plan replaced its domestic large-cap growth equity manager in the second quarter due to underperformance.
The retirement fund’s investment committee will interview three finalists in a $737 million search next week.
The searches include a maiden domestic small- to mid-cap equity mandate.
The retirement system was scheduled to consider domestic large-value equity alternatives to incumbent GAMCO Investors due to concerns over succession planning.
The plan will reduce its domestic large-cap growth exposure by eliminating an existing manager.
The deferred compensation plan is looking to create a bench of qualified investment managers.