Searches And Hires
The plan established a new 3% target to the asset class earlier this year.
The district received five proposals in response to an RFP issued in November.
The plan will move at least a portion of its roughly $57.4 million domestic small-cap core equity mandate to a passive option while it considers the role of the asset class as part of a broader public equity review.
The search is opened to commingled funds, mutual funds or limited partnerships.
The plan will not look to renew contracts with two incumbent large-cap growth equity managers.
The plan is looking to invest $200 million with multiple investment managers.
The retirement system moved away from its active domestic large-cap growth equity manager.
The retirement system added direct lending and core real estate commitments at today’s board meeting.
The city’s three pension plans will each be involved in the search.
The retirement system wrapped up an RFP process initiated in January.