The plan will search for an active domestic mid-cap equity to handle approximately $10 million.
Plan terminated a domestic small- to mid-cap equity firm and redistributed assets to its existing managers.
The plan is swapping domestic small- to mid-cap value equity managers this month and will have further discussions on direct lending at its February board meeting.
The plan terminated two existing managers and added commitments totaling roughly $912 million in October.
Five-member value team expects to officially spinout as a new, Boston-based firm in the first quarter.
The plan added domestic small- to mid-cap core and value managers to handle $90 million each.
The plan hired its general investment consultant and selected two new active mid-cap equity managers.
Most of the firm’s equity will continue to be held by employees.
Plan added several new asset classes as part of asset allocation targets approved at today’s board meeting.
The plan is conducting the domestic mid-cap core equity search due to portfolio management changes at its incumbent, while the large-cap growth hire was made following an RFP issued last year.
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