Large-Cap
The plan’s domestic large-cap portfolio will now be passively managed.
The plan also made two follow-on private equity commitments.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.
The plan’s current manager was first hired in 2017.
The plan is looking to potentially replace its incumbent due to performance issues.
The retirement system will discuss a passive approach for its large-cap core mandate.
The plan also named finalists in its domestic large-cap value equity manager search.
The pension plan hired two domestic large-cap growth equity managers as part of an ongoing shortlist search and terminated two existing managers.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.
The fund has narrowed its search for a new global equity manager for its portfolio to three finalists and selected a firm in its domestic large-cap growth equity manager search at its board meeting this week.