Alaska Retirement Management Board, Juneau, is searching for a high-yield fixed-income manager, said a board meeting summary provided by Judith Hall, liaison officer.
Investment consultant Callan Associates will assist with the search.
Further details could not be learned by press time, including whether an RFP will be issued and the size of the allocation.
Also at last week's board meeting, MacKay Shields was placed on watch for underperformance on an approximately $625 million high-yield fixed-income strategy. It could not immediately be learned whether the firm's watch status and the high-yield fixed-income search were related.
A MacKay Shields spokeswoman declined to comment.
The Alaska board oversees more than $29 billion in retirement assets.
