Searches And Hires
The commitments include a first time relationship for the plan.
The retirement system will conduct searches for international small-cap equity, high-yield fixed-income and bank loan managers.
The retirement fund is seeking managers to handle between $150 million and $350 million.
The pension plan and trust selected a new consultant in the third quarter following finalist interviews held at a special board meeting.
The searches are required to comply with state procurement requirements.
The pension plan’s cio recently approved three commitments totaling $350 million.
The plan’s existing general investment consultant will see its contract expire this month.
The plans hired a new consultant after interviewing four finalists last month.
The retirement system added a value-add real estate commitment in February that marks the third in a row with the manager.
The port authority is seeking retirement investment consulting services on behalf of its OPEB trust and defined benefit, deferred compensation and defined contribution plans.
