International / Global / Emerging Markets
The firm terminated a roughly $100 million mandate and will use the proceeds to support benefit payments and fund capital calls.
The plan is nearing a global core equity manager search as it looks to fill a new underlying 20% allocation.
The retirement system will also see its deputy executive director retire next week.
The plan’s investment committee approved new emerging market debt and private equity investments today.
The retirement system also recently hired a new international growth equity manager.
The potential search follows the termination of its incumbent active manager last month due to performance concerns.
The pension plan also made private debt and private equity commitments yesterday.
The university has placed a global equity manager on ‘hold’ due to portfolio manager departures and another global equity manager on ‘watch’ due to performance concerns.
The international small-cap growth equity manager underperformed and experienced asset outflows as well as organizational changes.
The pension fund may receive a recommendation on more specialized managers in the asset class later this summer.
