The plan approved the search at a board meeting yesterday for pacing purposes.
The retirement plan interviewed three consultant finalists for its alternatives portfolio.
The retirement system will issue an RFP for lower middle market buyout funds.
The plan placed one manager on formal watch and terminated another.
The search comes after the plan increased its target to the asset class by 2%.
The plan hired from within for its new cio.
The retirement system is looking to invest in the asset class for the first time.
The plan interviewed a total of six strategies last week.
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
The plan disclosed recent activities from its investment committee meeting this month.