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The plan recently committed $348.5 million total to two existing managers and terminated a high-yield fixed-income manager.
The firm will now manage approximately $40 million in the plan’s main portfolio.
For one of the world’s largest hedge funds, the U.K. pension fund crisis is just the start as central banks around the world raise interest rates and turn off quantitative easing.
Cathay Life Insurance tops the list of the largest investors in secondaries, committing $2.42bn to funds with vintages between 2016 and 2022.
The plan hired a firm to assist the board with oversight of investment management functions.
The plan, which has worked with its incumbent since 2002, elected to hire a new consultant yesterday.
They will lead the firm’s fixed-income team alongside the team’s existing CIO.
His co-managers will continue to oversee his strategies.
The two businesses will consolidate into Goldman Sachs Asset & Wealth Management effective Dec. 1.
The system is seeking a retirement plan investment consultant on behalf of its several funds after awarding a maiden contract for the services in 2018.