Equity
The plan also made two private equity commitments at its board meeting today.
The retirement system will also see its deputy executive director retire next week.
The pension plan also made private debt and private equity commitments yesterday.
The pension plan hired a new domestic small-cap value equity manager to replace an underperforming incumbent last week.
The university has placed a global equity manager on ‘hold’ due to portfolio manager departures and another global equity manager on ‘watch’ due to performance concerns.
The international small-cap growth equity manager underperformed and experienced asset outflows as well as organizational changes.
The pension fund may receive a recommendation on more specialized managers in the asset class later this summer.
The pension plan replaced a domestic large-cap value equity manager in the first quarter.
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
The domestic small-cap equity manager’s returns ranked below its peer group median and the strategy had low tracking error relative to the peer group.
