The $20 million commitment results from an ongoing search in the space.
The plan hired the firm for an $8 million mandate at its October board meeting.
The search is to potentially replace a current underperforming manager.
The plan’s micro-cap manager will now manage small-cap mandates.
The plan made a hire in its international small-cap equity manager search in July.
The plan will interview finalists in November.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The plan elevated its core-plus bond manager to watch status.
The plan has current managers in the two asset classes.
The plan will fund the new active manager from its index allocation.
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