Fixed-Income
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The credit group of a global alternatives manager is acquiring the entire outstanding share capital of a systematic fixed-income manager in a deal expected to close in the first quarter.
The plan is searching for domestic and international equity, core fixed-income and core real estate managers.
Some endowments and foundations are looking to emerging market debt, multi-asset credit and long-term bonds as a way to diversify their portfolios while also capitalizing on the macrotrends leading to a weaker greenback.
The plan will also receive an international equity manager search report next month.
The university also added a hedge fund manager and redeemed from an international equity manager within its endowment in the third quarter.
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.