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The university has hired the investment head from a Midwestern institution to serve as its cio and oversee its endowment as its current cio transitions to a part-time senior advisory role.
The plan’s general counsel has been serving in the role in the interim following Brian Collins’ retirement in April.
The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The town will issue an RFP for investment management services to “see what else is out there” after working with its incumbent since 2014.
The plan approved the search at a board meeting yesterday for pacing purposes.
The retirement plan interviewed three consultant finalists for its alternatives portfolio.
The pension fund also reached the range for this year’s pacing plan for the asset class with a recent $50 million commitment.
The new stable value fixed-income manager replaces the plan’s underperforming incumbent.
Adam Craig joins the Florida-based firm after nearly 30 years in the institutional investment industry.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.