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The retirement plan recently terminated two underperforming domestic equity managers.
The retirement system has already begun a search for his successor.
The plan selected a fund from a search report that included both secondaries and fund-of-funds options.
The retirement plan’s current consultant agreement has been in place since 2017.
Fund IV closes with $865 million in commitments, the largest in the firm’s history.
The pension system added $340 million in private markets commitments in the second quarter.
The acquisition agreement will generate a combined diversified global asset manager overseeing approximately $571 billion in assets.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
The foundation made a $12 million donation to the United Negro College Fund to provide permanent endowment capital to 12 selected member schools.
The university approved adding new private equity managers as well as re-upping a commitment with an existing venture capital manager within its endowment.