The search will be for a separate account manager to handle $400 million.
The consultant will be responsible for approximately $100 million in plan assets.
The plan hired a new firm to provide general investment consulting services.
The terminations were approved amid the plan’s ongoing international equity manager search.
The plan was unable to invest in a previously selected manager.
The two incumbents were the only firms that submitted proposals.
The city hired two equity managers and three private markets firms.
The plan selected a manager after interviewing three finalists last month.
The firm had been scheduled to present today but decided against attending due to the city’s state of emergency.
Plan’s new private equity head comes from a nearby state plan.