Searches And Hires
The consultant will help the city prepare a scope of services for an RFP to consolidate its five deferred compensation plan providers.
The plan agreed to utilize a fund-of-one manager to implement its maiden private credit allocation and hired a short-duration fixed-income manager this week.
The search will be conducted through an invitation-only RFI process.
The plan placed the firm on watch last month for performance reasons.
The foundation will issue an RFP for a firm to provide investment advisory and management services for its portfolio next week for standard due diligence purposes.
The plan hired a firm to handle its maiden commodities allocation and committed to an existing private equity manager yesterday.
The plans were slated to receive an ESG manager search book this week and made several changes to their passive equity portfolio last month.
The system was expected to review three private equity secondary fund-of-funds managers for its portfolio this week after beginning consideration of the strategies late last year.
The plan opted to retain its incumbent investment consultant and 529 industry consultant following searches from the first quarter due to the contract expirations of each firm.
The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.