Domestic Equity
The plan is looking for potential replacement managers due to asset outflows and personnel turnover at its incumbent.
Fund will invest in a select portfolio of 20 to 40 primarily mid-cap companies.
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
Plan received only one response to an RFP issued last month.
Another team member will assume his current responsibilities on Sept. 30.
The new firm replaces Thompson, Siegel & Walmsley, which had been monitored for performance reasons since 2019.
Plan added a $50 million U.S. small-cap growth equity mandate with an existing manager relationship this month.
Consultant recommended small-cap value manager search as part of a U.S. equity structure review presented last month.
Plan may conduct a non-core real assets manager search in the third quarter and recently simplified its domestic equity portfolio.