Passive Equity
The new manager will handle a mandate of up to $250 million.
The plan is replacing the consultant following a review at last week’s board meeting.
The retirement system is looking to access equity and fixed-income indices for future allocations.
The fund also terminated a domestic small- to mid-cap value equity manager at its August investment committee meeting.
The plan also eliminated its target to TIPS as part of an overall asset allocation change.
The retirement plan transitioned its domestic small-cap growth equity allocation to passive management in the second quarter.
The plan also terminated three equity mandates as part of a domestic equity portfolio restructuring.
The retirement system also recently made private markets commitments totaling $16.5 million.
The plan is seeking passive equity managers across two mandates.
The university invested over $2 billion to back the launch of an index ETF that allocates 90% to the Standard & Poor’s 500 Index and 10% to the S&P U.S. Investment Grade Corporate Bond 1-3 Year Index.
