International / Global / Emerging Markets
The plan is also slated to kickstart an asset/liability study and will see the results early next year.
The trust fund approved new international equity, private equity co-investment and a private credit secondaries investments during its board meeting last week.
A total of four firms were interviewed at a board meeting today.
The foundation approved investments with two Black-led strategies as it looks to achieve its goal of allocating half of its portfolio to diverse-owned managers by the end of 2025.
The retirement fund made commitments totaling $2.7 billion in August.
The plan’s current international equity manager recently saw the departure of a portfolio manager.
The deferred compensation plan replaced its emerging markets equity manager, which had been on watch, in the second quarter.
The fund’s investment and operations committee will recommend State Street Global Advisors to handle an active emerging markets equity ex-China mandate later this month.
The plan also added several new equity managers to the program.
The fund will consider adding international equity, private equity co-investment and private credit secondaries strategies to its portfolio this week.
