A Midwestern pension plan terminated its active large-cap equity managers to fund mandates with three new global equity managers hired following an RFP search.
Real estate head will now also lead subsidiary.
The pension fund will reinvest in public or private markets after reducing an absolute return mandate.
Plan funded a new international equity manager and added alternatives commitments in October.
The new v.p.s and associates will be based in New York or Los Angeles.
The plan is searching for small-cap firms for a domestic equity portfolio that is entirely with large-cap managers.
The state plan will invest up to $1 billion with portable alpha managers in 2021.
A teachers pension fund in the South has earmarked $630 million to real assets and private equity.
Plan would launch search in 2021 and the incumbent will be welcome to rebid.
A Southeastern state pension plan disclosed several new private commitments at a board meeting today.