International / Global / Emerging Markets
The retirement system will look to hire three emerging markets equity managers later this month amid a portfolio restructuring.
The retirement system terminated its global large-cap growth equity manager last month.
The pension fund will interview four emerging markets equity managers next week after approving a restructuring of its portfolio at a May meeting.
The retirement fund was scheduled to review its international equity portfolio structure last month after terminating a firm in April.
The retirement plan also added a private equity commitment at last week’s board meeting.
The retirement fund added domestic small-cap value and global low volatility equity managers to its watchlist in April.
The firm terminated a roughly $100 million mandate and will use the proceeds to support benefit payments and fund capital calls.
The plan is nearing a global core equity manager search as it looks to fill a new underlying 20% allocation.
The retirement system will also see its deputy executive director retire next week.
The plan’s investment committee approved new emerging market debt and private equity investments today.
