Equity
The plan also held executive director interviews last week.
The retirement system shifted its active domestic large-cap growth equity mandate to an existing index fund investment.
The pension fund has issued an RFI seeking local managers offering active equity strategies.
The retirement system also approved placing an international equity manager on watch due to a personnel departure.
The plan placed one manager on formal watch and terminated another.
The plan voted to consolidate its global equity portfolio to three managers from four at an investment committee meeting today.
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
The plan also approved $25 billion in passive investments with a firm as well as private equity commitments at today’s 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.
