International / Global / Emerging Markets
The city’s two retirement systems committed $12 million apiece for pacing purposes.
The plan terminated the firm after closed session deliberations.
The retirement fund added a pair of commitments to existing manager relationships last month.
The institution replaced its emerging markets equity manager last year due to a decline in assets and personnel turnover after considering six other firms.
The retirement fund also disclosed commitments totaling $1.1 billion in November.
The pension board will also target $1 billion to non-traditional equity strategies.
The retirement system first considered issuing the RFP last year.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.
The plan approved a recommendation from plan staff after tabling a decision from last month.
The retirement system also recently made commitments totaling $585 million.