Searches And Hires
The pension plan received a recommendation to hire a real estate manager last month.
The pension plan approved three commitments with an existing manager relationship last week.
The plans approved commitments with two existing manager relationships last week.
The search is for senior direct lending managers.
The pension plan will consider hiring one firm to provide hedge fund, credit and real assets consulting services next week.
The plan began a search in April that excluded its two incumbent managers.
The commitments were made under the plan’s delegated authority.
The deferred compensation plan’s active global large-cap growth equity manager had been on watch since the third quarter due to underperformance.
The commitments were made in closed session at this week’s board meeting.
The fund has entered a strategic partnership with a global quantitative equity manager, which will see them collaborate to develop cutting-edge investment products and foster innovation to better understand evolving investor needs.