International / Global / Emerging Markets
The system approved removing a diversifying strategies investment and adding a public equity investment with a new manager within its endowment and liquidity pools this month.
The proceeds will fund a new mandate from July.
The retirement system also hired two managers in its emerging markets equity search.
The retirement system added commitments to one new and one existing manager relationship last week.
The plan also terminated an active global equity manager last month.
The pension plan also added a global equity manager to its portfolio at a meeting yesterday.
The retirement system will release its statutorily required RFP later this month.
The plan is seeking active and passive funds to handle $1.35 billion.
The plan named two firms to manage $450 million total.
The manager had been placed on watch for performance reasons in the fourth quarter.