Delaware Public Employees’ Retirement System, Dover, invested $216 million in the BlackRock MSCI ACWI ex-US fund.
The $12.7 billion pension fund’s investment committee approved the investment in the passive international equity fund at its May 22 meeting, recently released meeting minutes show.
The pension fund’s board also approved an additional investment of $117 million in the BlackRock Russell 1000 Value Index fund. The minutes did not say how much was already in the existing portfolio.
Funding comes from the termination of a $333 million active global equity portfolio managed by Kiltearn Partners. The minutes did not provide a reason for the termination.
Officials at the pension fund could not be immediately reached for further information.
As of June 30, 2023, the actual allocations to domestic equities and international equities were 33.8% and 15.9%, respectively, according to the pension fund’s most recent annual comprehensive financial report.
