Searches And Hires
The retirement fund also adopted a new asset allocation to take advantage of higher interest rates.
The city’s pooled investment portfolio was previously managed by finance staff.
The plan has hired its fourth global unconstrained equity manager.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
The state fund-of-funds has issued an RFP seeking an investment consultant due to the upcoming contract expiration of its incumbent provider, which is eligible to rebid.
The fund will conduct a search for investment consultants next year after extending the contracts of its incumbent providers at its March board meeting.
The retirement system made two private equity commitments with existing manager relationships earlier this month.
The pension fund hired a new consultant last month after finalist interviews held in January.
The switch was made after a change in the incumbent firm’s ownership.
The plan will see its overall private markets target increase to 40% from 33%.
