Hedge Funds
The termination results from a new asset allocation.
The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
Retirement system is seeking a pool of managers to provide the services.
The plan hired a pair of domestic small-cap growth equity managers last week.
The firm hired two co-portfolio managers to lead its quantitative short-term strategy designed to identify top-down market regimes and systematically uncover patterns in price data.
The firm has promoted a v.p. and analyst to portfolio manager for several of its growth equity and long/short equity strategies.
Two of the searches stem from a revised asset allocation adopted last month.
The plan hired two hedge fund managers after conducting finalist interviews at a meeting today.
The pension plan is seeking several managers to handle a yet-to-be-determined mandate.