The Iowa Public Employees' Retirement System (IPERS) Investment Board made key moves this month in hiring two new asset managers and deciding to retain Wilshire as its investment consultant.
Last week, trustees approved the hiring of Kartesia and ITE Management to manage opportunistic credit mandate totaling $250 million. The board originally considered the funds in June, but had kicked back the decision pending more information on manager fees.
Kartesia will manage $150 million and agreed to a proposed reduction of all-in fees at a $100 million, $125 million and $150 million commitment levels . . .