Small-Cap
The termination stems from personnel turnover at the firm.
The plan is seeking a firm to handle its $511.5 million domestic small-cap value equity option.
The pension system approved minimum qualifications in a search for at least one manager to handle $150 million to $250 million last week.
The retirement system is searching for a U.S. small-cap growth equity manager to handle a $40 million mandate.
The retirement fund was scheduled to review its international equity portfolio structure last month after terminating a firm in April.
The plan approved a new domestic equity structure that shifts the portfolio to 100% passive.
The retirement fund added domestic small-cap value and global low volatility equity managers to its watchlist in April.
The retirement system replaced an underperforming U.S. small-cap value equity manager last quarter.
The plan also made two private equity commitments at its board meeting today.
Plan staff intends to bring minimum qualifications in its domestic small-cap value equity manager search to the board next month.
