Small-Cap
The RFP was slated to be issued to comply with standard state procurement laws.
The plan is looking to invest 2% of its assets with an emerging markets small-cap equity manager.
The plan retained its incumbent domestic small-cap core equity manager after conducting a search that yielded 52 responses.
The city’s OPEB and scholarship plans are also searching for a U.S. small-cap core equity manager.
The plan selected two international small-cap value equity managers to conclude its search for a firm in the fourth quarter due to underperformance from the incumbent.
The plan approved an asset allocation in March that introduced new targets to international small-cap equity and infrastructure.
Publicly-traded large-cap companies continue to garner the attention of media and investors, but allocator interest is beginning to look down market to the small-cap sector.
The pension plan hired five non-U.S. equity managers and approved a new private equity portfolio structure last week.
The plan is seeking firms to manage a total of $100 million.
The search for a manager to handle $30 million was approved at a board meeting last week.