Searches And Hires
The foundation has utilized the same manager for its investment portfolio since 2006
The retirement system had anticipated initiating the search per state regulations.
The authority is seeking investment advisory services on behalf of its roughly $345 million in cash and investments.
The retirement board is seeking an active value-oriented international equity manager.
The retirement system hired five managers to each handle between $50 million and $75 million yesterday.
The retirement system approved the search at its February board meeting.
The firm’s hire will be recommended to the full board at a meeting later this month.
The university approved rebalancing its endowment, including hiring two new active public equity managers, while also revising its endowment and non-endowed investment policies last month.
The agency currently manages its investment portfolio in-house.
The pair of expected private credit commitments will help the fund as it looks to reach its target allocation to the asset class in the coming years.