International / Global / Emerging Markets
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.
The restructuring resulted in the termination of two active managers.
The plan launched a search to replace its incumbent in July due to organizational changes as well as underperformance.
The plan expects to hear presentations from six private equity firms next month as part of a search initiated in April.
The plan is searching for managers to handle more than $850 million.
The plan hired a new manager to handle roughly $37 million at its board meeting last week following a recommendation from its general investment consultant this summer.
The incumbent firm was terminated after being on watch since late 2021 due to a change in the team.
The plan will interview two global equity finalists later this month and has welcomed back a former staffer as its new deputy cio.
The plan is seeking regional and country-specific international equity managers.
The Lone Star State retirement fund terminated one equity manager and placed another two on watch this week.
