Industry News
The transaction closes in the second half of this year.
BCI will target a cumulative $5 billion investment in sustainability bonds and reduce the carbon exposure in its global public equities portfolio by 30% by 2025, from a 2019 baseline.
The plan will engage in a process to select a new executive director in the coming weeks.
The additional capital will facilitate strategic growth as Arlington expands an existing base of global limited partners, provides additional investment vehicles to investors and further invests in organization and infrastructure, the firm said.
The plan tapped a recently retired deputy from the state’s employees retirement system.
Plan has begun a search for a new executive director following a departure last month.
Institutions should take a fresh look at financial and investment strategies to address challenges to their business models and maintain optimal asset allocations to meet a 7.5% historical return target, particularly in the face of a long-term era of muted returns, according to a recent study.
The plan’s director of fixed-income and alternatives will become cio in May.
The investment officer retired after 15 years with the plan.