Searches And Hires
The state’s treasury department is seeking two firms to provide record keeping, administrative and communication services as well as custodial and investment advisory services as it looks to reduce its current fee structure.
The fund concluded a recent RFP with three private equity commitments totaling $50 million.
Plan staff intends to bring minimum qualifications in its domestic small-cap value equity manager search to the board next month.
The city also recently consolidated its record keeping services with one firm.
The incumbent manager is currently on watch for performance reasons.
The retirement system received four proposals in response to an RFP issued in November.
The retirement fund elected to retain its incumbent following finalist interviews that included three other firms.
The commitments include two new manager relationships for the plan.
The city expects to issue an RFP in the next two to three weeks.
The pension plan also made private debt and private equity commitments yesterday.
