Small- to Mid-Cap
The pension plan will consider potentially replacing its domestic small- to mid-cap core equity manager, which has underperformed.
The search is open to core, value and growth non-U.S. equity managers.
The plan is looking to hire one manager that is benchmarked against the Russell 2500 Index.
The pension plan has replaced its incumbent domestic small- to mid-cap value equity manager, which had been on watch.
The plan launched two manager searches after approving a new asset allocation last month.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The pension plan liquidated its approximately $210 million domestic small- to mid-cap growth equity and made commitments totaling $120.5 million in November.
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.
The hire concludes a search to replace a current underperforming manager.
The RFPs will seek managers to handle 10 different strategies.
