Infrastructure
The pension plan will liquidate its $227.5 million timber mandate and $106.4 million farmland mandate due to underperformance.
The plan made hires in the two searches at a Nov. 15 special board meeting.
The retirement system disclosed recent private equity and infrastructure commitments from the beginning of the fourth quarter.
The pacing plans call for a total of $835 million across the two asset classes.
The plan expects to launch the search in January as its incumbent’s contract is slated to expire on June 30.
The search will be conducted as part of a new policy to review vendor services every five years.
Plan is seeking closed-end funds for a $10 million to $15 million mandate.
The commitments include two custom mandates.
The pension plan’s investment committee approved commodities, fixed-income and private credit commitments last week.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
