Large-Cap
The pension plan hired a new domestic large-cap growth equity manager and committed to an existing opportunistic real estate manager today.
The pension plan has issued a general investment consultant RFP due to an upcoming contract expiration and will launch an active domestic large-cap value equity manager search as part of a portfolio structure review.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The plan will also receive an infrastructure search report next month.
The decision came as the firm’s performance has been a drag on the plan’s return.
The plan elevated its core-plus bond manager to watch status.
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.