Searches And Hires
The university hired a new firm to provide investment management services for its financial assets as well as those of its foundation following a search from last year.
The retirement board rehired its incumbent in 2019 following a similar search.
The plan disclosed three commitments totaling $275 million.
The search is for a firm to handle the agency’s $651 million in cash and investments.
The Austin, Texas-based organization has in excess of $500 million in investable assets.
The plan’s general investment consultant recently recommended a review of domestic large-cap value equity managers due to the incumbent’s underperformance.
The board will hire a new private equity manager in October.
The city is seeking investment advisors for two asset pools.
The retirement fund authorized commitments totaling $305 million, including one new relationship.
The six firms will handle aggregate assets of $1 billion.