Non-U.S. & Global Fixed-Income
The retirement system also recently made private markets commitments totaling $16.5 million.
The plans also replaced a domestic large-cap growth equity manager due to underperformance.
The retirement system last conducted a similar search in 2019 due to regulatory requirements.
The plan’s investment committee approved new emerging market debt and private equity investments today.
The retirement plan approved a private infrastructure manager search to handle a potential 4% target allocation in December.
The fund is looking to hire four global passive fixed-income managers.
The newest commitments come as part of a pacing plan for the asset class.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement system also approved a search for a multi-asset credit manager at the end of August.
The retirement association also terminated an emerging market fixed-income mandate at today’s board meeting.
