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The retirement system also voted to recommend the liquidation of an international small-cap equity manager at today’s investment committee meeting.
The plan also eliminated its target to TIPS as part of an overall asset allocation change.
The city is conducting the search due to its incumbent’s expiring contract.
The retirement system also made one full redemption at today’s board meeting.
The city rehired its incumbent investment manager following an RFP issued in May.
The search will have a particular focus on European and global funds to increase the pension fund’s exposure outside of the U.S.
She will focus on scaling Adams Street’s venture secondaries capabilities within the firm’s established Secondary Investments Team.
The plan has now added three associate investment officers.
The deferred compensation plans currently work with Empower and Nationwide Retirement Solutions.
The retirement system is seeking open-end core real estate managers to handle up to $40 million.