Searches And Hires
The plan has four incumbent managers in the two asset classes.
The search is due to underperformance from the retirement plan’s incumbent manager.
The plan began searches for active domestic large-cap, small- to mid-cap and small-cap equity managers in February.
The plan also terminated three managers last week.
The plan is seeking separate account managers that can offer exposure to multiple credit asset classes.
The county’s pension plan and OPEB Trust replaced their global core equity manager, which had been on watch due to underperformance, in May.
The search comes after the plan placed its incumbent international equity manager on watch in May.
The fund approved a maiden commitment to a private credit secondaries strategy during its August board meeting to take advantage of discounts in the credit secondaries market.
The foundation is searching for investment advisors to advise, manage and administer its reserve fund as well as develop and implement an investment strategy.
The funds are being moved to an international index fund managed by Fidelity Investments.