Searches And Hires
The plan swapped domestic small-cap core equity managers last month following a search by its investment consultant last year.
The plan is seeking a firm to handle a $15 million mandate and provide uncorrelated returns to both equity and fixed-income markets.
The plan had more than $430 million in the program at the end of 2022.
The plan made the commitment alongside approving a 3% target to the asset class at today’s board meeting.
The plan will look for a replacement global growth equity manager after terminating its incumbent this week.
The plan fully redeemed a market-neutral investment and will consider an international small-cap value equity manager hire.
The plan committed $911 million total to a core real estate strategy and three buyout funds yesterday.
The firm is being monitored due to performance and recent personnel turnover.
The trust hired a new general investment consultant at its board meeting yesterday.
The foundation has issued an RFP seeking an investment consultant for its endowment and operating accounts.