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The plan hired a new general investment consultant after interviewing three finalists.
The termination follows a recent downgrade from the plan’s investment consultant.
The plan, which eliminated target allocations and terminated a manager within its stable value fixed-income option today, will see its executive director depart on Dec. 2.
The plan’s general investment consultant will review an index search as well as potential active manager candidates at a meeting next month.
He will identify growth opportunities in the market and strengthen the firm’s positioning.
They will serve as chief talent officer and a senior investment team member, respectively.
He will focus on scaling and strengthening Vision Ridge’s asset management and governance capabilities.
But Fitch says an immediate U.S. panic is “unlikely.”
U.S. dollar-denominated private equity funds may be in a position to make outsized returns as other currencies depreciate.