The plan will soon begin an international equity search to potentially replace its underperforming incumbent.
The trust may have transitioned its two active international equity investments to a passive non-U.S. core index fund.
The pension plan also made a private equity commitment for pacing purposes last month.
The plan’s investment consultant recommended hiring specialized managers for its non-U.S. equity portfolio.
The board also disclosed a private equity commitment at today’s investment committee meeting.
The plan also made two private markets commitments last month.
The plan concluded its global equity manager search with a replacement for one existing firm.
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The retirement system is seeking strategies across the international equity spectrum.
The retirement system made a manager switch after issuing an RFP in February.