Searches And Hires
The retirement system hired three managers and made follow-on commitments to two existing strategies as part of an evergreen private debt search.
The pension trust is running searches for investment grade corporate credit and multi-asset managers to handle respective allocations of $660 million and $130 million.
The town is seeking a manager to oversee three asset pools totaling $185.1 million.
The plans’ current outsourced cio was first hired in 2019.
The plan replaced its domestic all-cap equity manager, which had been on watch since April 2022 due to underperformance.
The system will consider making a growth private equity commitment at its Feb. 1 board meeting this month.
The fund approved private equity and private credit commitments with existing managers as recommended by its general investment consultant last week, with more recommendations expected in the coming months.
Retirement system is seeking a pool of managers to provide the services.
The assets will be indexed and no replacement search is planned.
The search is being conducted due to incumbent Empower Retirement’s upcoming May 31 contract expiration.
