Large-Cap
The search is for a manager to handle $50 million with funding coming from the reduction or elimination of its current large-cap value manager.
The plan is looking to diversify its domestic large-cap value equity portfolio.
The endowment conduct in-person interviews with three finalists in its domestic large-cap growth index fund manager search at its board meeting this week.
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.
