Searches And Hires
The investment manager will be tasked with managing $75 million.
The pension system added a new commitment to an existing credit manager relationship last week.
The pension plan hired the firm based on its favorable returns, low fees, diversification and low correlation to existing active core-plus fixed-income manager Loomis, Sayles & Company.
The manager will fill maiden targets of 5% to international small-cap equity for each plan.
The plan also named a new manager at a board meeting earlier this year.
The retirement association is looking to add a passive component to its international equity portfolio.
The firm will provide monitoring and evaluation of the plan’s discretionary investment manager.
The pension plan committed up to $40 million to an existing manager relationship yesterday.
The fund is searching for firms to provide low duration/short-term fixed-income exposure for a $104 million allocation and is slated to conduct a search later this summer for a manager to handle a new approximately $200 million core bond portfolio.
The foundation has issued an RFP seeking a firm to provide investment, participant, provider/vendor and fiduciary status and compliance services for its retirement plans after conducting a search for an investment provider in the first quarter.