High-Yield
The plan will conduct an international small-cap equity manager search as part of a new asset allocation.
The plan agreed to conduct an international large-cap equity manager search and broaden its emerging market debt allocation at today’s board meeting.
The plan hired a fixed-income manager to replace two underperforming incumbents.
A California plan agreed to initiate a real estate search following approval of a new asset allocation policy yesterday.
The plan concluded its high-yield fixed-income manager search and disclosed up to $555 million in private equity commitments at its board of investments meeting this week.
A Northwestern pension plan hired an absolute return bond manager to replace its terminated mandate with hedge fund-of-funds manager Castine Capital Management at yesterday’s board meeting.
Infrastructure represents a new asset class while the high-yield search is due to procurement rules.
A fund in the South revised its investment policy statement to allow staff to internally invest a portion of its fixed-income allocation in BB-rated securities at a meeting last month.
A Midwestern plan made several changes to its equity and fixed-income portfolios as part of its transition to a new long-term asset allocation policy.
