The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan disclosed two recent commitments totaling $900 million and named a replacement for CFO Barry Faison, who will officially retire on Dec. 31.
The plan hired two new managers and disclosed five commitments at yesterday’s board meeting.
The plan will review an international small-cap value manager and a low volatility equity manager due to underperformance.
Plan hired an international value mandate to fill replace a manager terminated at the end of 2021.
The plan recently placed an international large-cap equity manager on watch due to underperformance and made $80 million in total private equity commitments.
The plans terminated an international value equity manager, which had been on watch, and hired a record keeper and custodian last week.
The plan selected three emerging markets equity finalists and made an additional commitment to an existing infrastructure manager yesterday.
The plan first hired Highclere International Investors in 2019.
The plan terminated an emerging market debt firm as well as an emerging markets equity relationship within its emerging manager program last month.
Financial Investment News is a key service provider for the asset management and financial services industries. For further details on our offerings, contact Victoria Dorage at [email protected]