The plan’s incumbent manager is currently on watch for performance reasons.
The search is open to buyout, growth equity and venture capital strategies.
The plan is considering follow-on commitments to eight existing managers.
The new asset allocation introduces private credit and infrastructure asset classes.
The plan selected a winner after interviewing a total of three finalists today.
The redemption follows the death of the firm’s founder and cio last month.
The latest commitment represents the plan’s fourth overall investment with the firm.
The pacing plan will target a total of $80 million to the asset class.
The private markets commitments were to two existing manager relationships.
The search is for global ex-U.S. and passive equity managers.