Small-Cap
The retirement system has two domestic small-cap equity mandates up for bid.
The retirement system reviewed three potential replacement options for an incumbent manager last quarter.
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The pension fund had approved minimum qualifications for the search last month.
The plan will receive a recommendation to terminate an international equity manager due to underperformance.
The retirement system also concluded its private equity and index manager searches.
The retirement system launched a domestic small-cap growth equity search in April.
The retirement system also wrapped up its first fiscal year as an independent entity by outperforming its benchmark by more than 100 basis points.
The pension plans had been expected to move a portion of a previously terminated U.S. all-cap value equity mandate to the new small-cap value manager.
The pension is expanding its emerging manager program into the public equity space after initial investments in alternatives starting in 2022.