Passive Equity
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The searches comply with standard state procurement laws.
The plan also concluded its real estate and passive manager searches.
The plan terminated its active international value equity manager in December due to underperformance.
The plan could not reach enough votes to approve rehiring its incumbent private equity consultant.
The plan will consider hiring two international equity managers to handle up to $700 million total this week following a search from last year
The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
The plan conducted a similar search in 2021 that did result in any hires.
The plan expects to conclude the search process in the third quarter.
The plan is looking for an index focused on factors such as value, momentum, quality and low volatility to serve as a reference benchmark for an internally-managed portfolio.
