International / Global / Emerging Markets
The retirement system also recently added private markets commitments totaling $26 million.
The retirement system also added two private credit commitments in the third quarter.
The fund’s general investment consultant recommended the search for a core manager to complement its existing international equity managers.
The plan voted to add a passive option for the asset class that can be funded at a later date if they choose.
The three firms failed to meet the New York City Retirement Systems’ climate expectations, Comptroller Brad Lander says.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The plan is also expected to reduce positions in U.S. small-cap and explore enhanced indexing as parts of an overall global equity portfolio roadmap discussed last week.
The retirement fund also approved an Africa-focused private equity commitment earlier this month.
The retirement fund terminated the manager due to underperformance.
The retirement system will also receive private markets pacing schedules this week.