The new manager will complement the plan’s existing emerging markets core equity mandate with Wellington Management Company.
Plan will take a deep dive of the international equity space for potential options after placing a EAFE value firm on watch today.
Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Firm’s strategy had underperformed the MSCI EAFE Index over the one- and three-year periods ending March 31.
Plan invested $230 million across two international growth mandates in the first quarter.
The search is for managers to handle $200 million.
Program is seeking up to two firms to handle four investment options.
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
The plan is looking to place nearly $770 million with two managers.
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