Non-U.S. & Global Equity
The plan hired Aksia following a discretionary private credit advisor RFI and amended its annual pacing plan with discretionary private equity advisor Hamilton Lane.
The search will be open to single strategy managers and emerging managers-of-managers.
Plan completed a search for an international small-cap equity manager last week following finalist interviews held in December.
Its portfolio will consist of international holdings that are currently concentrated in Europe and Canada.
The search will be conducted this year as part of a real estate structure review, which was approved at the meeting.
Plan is looking to fill a new $700 million allocation to global credit and conduct due diligence on its passive investment managers.
She will leave the Kansas City, Mo.-based firm at year-end.
A Virginia-based pension plan added commitments with new and existing managers in September and made several changes to its fund lineup over the past fiscal year.
Many nonprofit investors anticipate positive but muted returns from the equity and bond markets in 2022 and are looking to de-risk their portfolios and rebalance toward policy allocations after colleges and universities saw their highest returns in more than three decades.
The prospects of economic and societal impacts of new COVID-19 variants coupled with continued supply chain issues and an inflationary environment that is less transitory than initially expected has led investors to take a more cautious approach with their investment portfolios.
The plan will conduct a detailed review of its emerging markets equity portfolio that will include small-cap candidates next month.