Equity
The plan is seeking managers to handle a total of $135 million.
The search is being conducted to diversify the program’s investment lineup.
The plan will move the assets with the state investment trust.
The retirement fund also adopted a new asset allocation to take advantage of higher interest rates.
The fund has decided to terminate its contracts with an international equity and emerging markets equity manager that handles approximately $8.5 billion to comply with state law barring it from investing in financial companies that boycott energy companies.
The plan has hired its fourth global unconstrained equity manager.
The healthcare system redeemed domestic large-cap equity and emerging markets equity allocations and reallocated the proceeds with existing equity managers in its portfolio at the recommendation of its general investment consultant in the first quarter.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
The plan invested $4.3 million with a new manager in the asset class in the fourth quarter.
The cio of the employee-owned active equity manager will depart next year as part of a planned retirement and responsibilities will be assigned across the firm during the transition period.
