Small-Cap
The potential move comes as the strategy’s portfolio manager recently retired.
The retirement system approved the hire following a search report presentation from its consultant.
The retirement system has issued separate RFPs for small-cap value and small-cap growth managers.
The pension plan also made a real assets commitment this week.
The plan concluded a non-U.S. equity portfolio restructure with an international small-cap hire this week.
The plan approved a search to fill a $390 million allocation last week.
The fund also failed to approve a hire in its private markets consultant search at today’s board meeting.
The pension plan has made four equity investments totaling $850 million.
The plan’s current U.S. small-cap growth equity option has experienced underperformance.
The pension fund also concluded a core fixed-income manager search with a hire at this week’s board meeting.