The retirement system had anticipated initiating the search per state regulations.
The retirement board is seeking an active value-oriented international equity manager.
The retirement system approved the search at its February board meeting.
The retirement system is seeking international equity managers to handle a mandate benchmarked to the MSCI ACWI ex-US Index.
The plan made a hire in its non-discretionary hedge fund consultant search earlier this year.
The plan interviewed three firms for its emerging markets equity mandate.
The plan also made private markets commitments totaling $15 million in January.
Empower Retirement currently serves as the plan’s record keeper.
Four total firms were considered in the investment consultant search.
The plan interviewed two finalists last month for a $46 million mandate.