Fixed-Income
The search is required due to state procurement law requiring an RFP every seven years.
The plan terminated its previous consultant less than one year into its contract.
The retirement system also retained its three core fixed-income managers last week.
The pension plan also made two private equity commitments totaling up to $80 million in June.
The plan is also considering adding risk mitigating strategies.
The retirement system conducted a similar search in 2018 that resulted in a manager change.
The university recently added core fixed-income allocations with an existing manager as part of its goal to divest its portfolios from fossil fuel exposures.
The plan’s investment committee approved a complementary fourth private credit fixed-income manager yesterday.
The board hired an intermediate manager to replace a short-term bond mandate.
The retirement system also approved a search for a multi-asset credit manager at the end of August.