Mid-Cap
The plans replaced their domestic mid-cap growth equity manager, which had been on watch since the fourth quarter.
The hire concludes a replacement search conducted by the retirement system’s general investment consultant in February.
The plan began a replacement search for a domestic mid-cap equity manager terminated last quarter.
The retirement system liquidated the two investments to exit the China market.
The retirement system has issued three domestic equity manager RFPs.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The plan also terminated a high-yield fixed-income manager in the first quarter.
The retirement system agreed to part ways with an active manager that had been on watch due to lagging performance.
The plan terminated its incumbent mid-cap core manager last month.
The plan also added a new 6% target to private credit.