International / Global / Emerging Markets
The plan agreed to redistribute its dedicated emerging markets equity allocation to developed markets equity, private equity, private credit and commodities this week.
The plan is seeking international core, growth and value equity managers to handle roughly $600 million.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The retirement system’s general investment consultant will return to next month’s board meeting with an international small-cap equity search.
The board was notified of two recent equity manager terminations and a new private equity commitment.
The plan will interview two firms in September as it looks to replace its current manager due to personnel changes and a decline in AUM.
Plan will discuss the full redemption of its international value manager due to that firm’s closure at next week’s board meeting.
The plan is looking to make two to three commitments in the growth equity and buyout spaces by the end of the year.
The plan is seeking two or more managers to handle roughly $2.9 billion.
The plan expects to hold finalist interviews in September as part of an ongoing manager search and approved changes to its equity manager target allocations yesterday.