International / Global / Emerging Markets
Commitments included over $1.9 billion to OrbiMed Private Investments X and more than $1 billion to OrbiMed Asia Partners VI.
The plan also terminated an international large-cap growth equity manager.
The retirement system will receive potential international equity candidates next month.
The retirement system made $60 million in total commitments at a board meeting this week.
The new manager will handle a mandate of up to $250 million.
A new survey from a global investment firm has found that U.S.-based RIAs are interested in adding new exposures to international and equity ETFs in their client portfolios.
The plan adopted a new target asset allocation that makes minor adjustments to its current policy at today’s board meeting.
The retirement fund also disclosed commitments totaling roughly $1.2 billion in July and August.
The fund also terminated a domestic small- to mid-cap value equity manager at its August investment committee meeting.
The pension system will invite three finalists to present at its board meeting in November.
