Small-Cap
The plan approved commitments to two existing managers.
The new manager replaced the plan’s incumbent small-cap value manager due to an acquisition.
The plan rehired its incumbent after interviewing four total firms today.
Plan staff is considering searches in small-cap equity and multi-asset credit searches later in 2023.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.
The institution is seeking investors with experience investing in smaller listed companies in the U.K. and Europe as it finds the opportunity set interesting.
The plan may hire two direct lending managers next month.
The plan swapped domestic small-cap core equity managers last month following a search by its investment consultant last year.
The plan fully redeemed a market-neutral investment and will consider an international small-cap value equity manager hire.
The plan’s incumbent manager will see its contract expire this year.