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Germany’s Allianz said on Wednesday it would set aside another $2 billion as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm.
Funds that manage retirement savings for teachers, firefighters and other public workers returned a median minus 4.01% in the first quarter.
The plan had issued an RFP for single strategy and emerging managers-of-managers to complement or replace the incumbent in January.
The plans’ incumbent was most recently rehired in 2017.
Plan retained its incumbent consultant over proposals from four other firms.
Plan’s new asset allocation policy will introduce a 10% target to domestic small-cap equity.
Agency is searching for a firm to help manage its $270 million portfolio.
He will help provide portfolio companies with sector-specific expertise to enhance operations and accelerate growth.
The fund invests in opportunistic and special situation private credit transactions across multiple industries.
Firm’s sustainable investment team has over 20 dedicated professionals.