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Developing world specialist Daniel Wood says asset managers are selling Kremlin-linked debt at close to 80% discount, with international hedge funds being the biggest buyers.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
Plan reached an impasse in contract negotiations with a firm originally selected in February.
The consultant will be responsible for the plan’s stable value fund.
The current consultant was first hired in 2016.
The private equity director retires next month after serving in the position since 2017 and at the plan since 1998.
The new directors will be responsible for development strategy and institutional investor relationship management, among other duties.
The analysts are responsible for portfolio management, valuation and reporting, while the associate will provide client management and fundraising support.
The team was formed earlier this month, the firm said.
Texas Comptroller Glenn Hegar has released a list of financial companies that boycott energy companies.