Searches And Hires
The retirement system is cutting ties before its current manager shuts down its alternative equity team.
The plan has now hired a total of 12 new international equity managers this year.
The retirement system terminated its incumbent international small-cap core equity manager this month due to personnel turnover.
The search stems from a manager termination approved in September.
The city is seeking the services on behalf of its $8 million 457 deferred compensation plan.
The commitments will target the non-coastal regions of the U.S.
The city is seeking an investment consultant for its two self-insured trust funds.
The retirement system made private equity commitments totaling $35 million in January.
The plan’s existing large-cap growth manager had underperformed.
The retirement system is scheduled to select three finalists in its international equity manager search next week.