Small-Cap
The plan first hired the firm in 2018.
The plan is seeking a fund-of-one structure to manage an initial 3% of its long-term 7% target to the asset class.
The fund had previously received a recommendation from its investment consultant to seek a domestic small-cap value manager.
The retirement plan concluded its U.S. small-cap value equity manager search after interviewing two finalists.
The $50 million investment concludes a search for an additional long/short strategy initiated late last year.
The retirement system also hired new domestic small- to mid-cap equity managers in June.
The university recently swapped out a small-cap value equity strategy for a Standard & Poor’s small-cap exchange-traded fund in the first quarter.
The pension plan recently made commitments totaling $945 million and terminated a domestic small-cap growth equity manager.
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.