Mid-Cap
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
Plan will interview three firms at a future board meeting.
Consultant recommended small-cap value manager search as part of a U.S. equity structure review presented last month.
The university is looking to add actively managed domestic and emerging markets equity strategies in order to diversify and enhance its portfolio’s returns.
The restructuring will next eliminate three more managers next month.
The plan will receive a list of candidates at its June 25 board meeting.
New domestic small-cap core mandate will complement existing small- to mid-cap and value investments.
Plan added two new fixed-income managers in a revamped global bond portfolio at this week’s meeting.
Incumbent firm recently experienced a client loss that dropped its product assets below an acceptable threshold for the plan.
