International / Global / Emerging Markets
The plan issued an RFP in December for a firm to manage a $350 million mandate.
The firm interviewed two finalists at yesterday’s board meeting.
The retirement fund disclosed commitments totaling $2.3 billion in the first quarter.
The retirement system also concluded its real estate search for debt, opportunistic and value-add managers.
The retirement fund added a dedicated 5% allocation to the asset class earlier this year.
The retirement plan replaced an existing manager due to performance reasons.
The pension plan will review its upcoming global core equity manager search process at an investment committee meeting next week.
The retirement fund placed domestic small- to mid-cap value and international small-cap equity managers on watch last month.
The plan hired a new international equity manager after interviews yesterday.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.