Small-Cap
The search will be conducted to replace an incumbent small-cap core manager.
The plan’s board had been in a protracted search that had initially seen Verus hired over incumbent Callan and then the search restarted.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The retirement plan recently terminated two underperforming domestic equity managers.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
The plan agreed to a consultant recommendation to terminate an underperforming international small-cap equity manager this week.
The pension fund will review potential alternative domestic small-cap equity managers in November.
The retirement association also recently committed $205 million across six new funds.
The plan began a replacement search for a domestic mid-cap equity manager terminated last quarter.
The retirement system’s international small-cap portfolio consisted of a $57.8 million core mandate with Global Alpha Capital Management.