Non-U.S. & Global Equity
The pension board will also target $1 billion to non-traditional equity strategies.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.
The plan approved a recommendation from plan staff after tabling a decision from last month.
The three firms will vie for a $25 million mandate next month.
The plan is looking to allocate up to $250 million to emerging managers.
The retirement fund hired a value mandate to complement its international growth equity mandate last month.
The plan will issue the RFP to evaluate the international growth equity landscape.
The board hired domestic and international all-cap equity managers last quarter.
The retirement system hired two international equity managers to replace an incumbent that had been on watch since October.
The foundation recently invested in a climate-focused public equity strategy as it looks to achieve net-zero carbon emissions in its portfolio by 2030.