International / Global / Emerging Markets
The retirement plan’s incumbent manager was placed on watch today for performance and organizational issues.
The university made several re-up and add-on commitments with existing developed equity, hedge fund and private equity managers within its portfolio during the third quarter.
The plan is looking to allocate up to $250 million to emerging managers.
The retirement fund hired a value mandate to complement its international growth equity mandate last month.
The plan is seeking emerging market debt strategies to invest 1.5% of its assets.
The plan will issue the RFP to evaluate the international growth equity landscape.
The plan rehired two of its managers and terminated one as it wrapped up its search process at today’s meeting.
The three firms are recommended for watch status due to underperformance.
The board hired domestic and international all-cap equity managers last quarter.
If approved, the new 20% global core equity allocation would require a search later this year.