Non-U.S. & Global Equity
The retirement fund was scheduled to review its international equity portfolio structure last month after terminating a firm in April.
The retirement plan also added a private equity commitment at last week’s board meeting.
The plan approved a new domestic equity structure that shifts the portfolio to 100% passive.
The retirement fund added domestic small-cap value and global low volatility equity managers to its watchlist in April.
The plan is nearing a global core equity manager search as it looks to fill a new underlying 20% allocation.
The retirement system will also see its deputy executive director retire next week.
The potential search follows the termination of its incumbent active manager last month due to performance concerns.
The pension plan also made private debt and private equity commitments yesterday.
The international small-cap growth equity manager underperformed and experienced asset outflows as well as organizational changes.
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
