Equity
The plan replaced two existing managers in the fourth quarter due to underperformance.
The retirement board is seeking an active value-oriented international equity manager.
The firm’s hire will be recommended to the full board at a meeting later this month.
The retirement system is seeking international equity managers to handle a mandate benchmarked to the MSCI ACWI ex-US Index.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The university approved rebalancing its endowment, including hiring two new active public equity managers, while also revising its endowment and non-endowed investment policies last month.
The plan interviewed three firms for its emerging markets equity mandate.
The plan interviewed two finalists last month for a $46 million mandate.
The plan will interview four emerging markets equity finalists next week.
The plan launched a search last year due to underperformance from its incumbent manager.