Searches And Hires
The plan selected a manager after interviewing three finalists last month.
The plan committed a total of $20 million to two funds offered by a private equity manager at its May 16 meeting.
The plan will receive information on three to four potential managers at a future meeting.
The city is seeking a firm to provide management and portfolio services for roughly $1.3 billion in assets.
Plan has issued RFPs for minority-, women- or disabled-owned core bond and short-duration bond managers.
The selected firm will also provide services for the city’s approximately $137.9 million 401(a) and $23.5 million Retirement Health Savings Plans.
The plan will consider three pacing plans at its board meeting this week and recently added a private equity commitment with an existing manager.
The administrator would be responsible for a deferred compensation plan and a health savings plan.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The plan’s board is slated to approve Wilshire as its new general investment consultant this week.