Small-Cap
The plan also hired two credit managers in the fourth quarter.
The plan approved the two manager searches at a board meeting yesterday.
The retirement association will look to fill out its new international small-cap equity allocation with a hire next quarter.
The plan terminated the firm after closed session deliberations.
The plan is considering replacing an underperforming domestic equity manager and is also asking for a list of potential private equity options.
The retirement fund also approved an infrastructure pacing plan earlier this month.
The pension system is scheduled to hear a proposed U.S. equity structure this week that would concentrate assets with a “fewer number of higher conviction strategies currently in the portfolio.”
The plan’s current domestic equity portfolio includes small- to mid-cap growth and small-cap value mandates.
The retirement fund also hired a new domestic small-cap value equity manager this week.
The retirement system will conduct the search due to the expiring contract of its incumbent.