Domestic Equity
The retirement system approved the search at last week’s board meeting due to an upcoming contract expiration.
The plan placed one manager on formal watch and terminated another.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
The retirement system will split a mandate between two firms following finalist interviews held this week.
The retirement system also disclosed commitments totaling roughly $2.5 billion at the meeting.
The plan interviewed three finalists in closed session at yesterday’s board meeting.
The plan also recently concluded its non-U.S. equity manager searches.
The deferred compensation plan replaced its underperforming domestic small-cap growth equity manager in the first quarter.
The termination stems from personnel turnover at the firm.
