Searches And Hires
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.
The plan hired Albourne as its new strategic investments consultant and brought on Aksia for its private credit portfolio.
The retirement fund will be looking to add an equity long/short strategy to its hedge fund portfolio in the first quarter.
The plan also concluded its emerging markets ex-China equity search at a meeting this week.
Four total firms will vie for an approximately $521 million mandate.
The trust fund added core-plus real estate fund this month as it looks to increase its exposure to manufactured housing and residential real estate.
The fund expects to receive a recommendation to commit $120 million to a new infrastructure manager at this week’s board meeting as it’s underweight its target to the asset class.
The institution is looking to improve its cash flow management, optimize liquidity and establish a robust treasury management system to enhance its financial stability and maximize investment returns.
The corporation made four awards, two each in the second and third quarters, as part of its search for debt and equity funds to create a balanced catalyst fund.
The pension plan expects to issue an RFP to potentially replace a terminated core real estate manager next year.