The commitments include two new relationships for the council.
The new manager began last month and will officially assume the role at the end of March.
The plan’s former executive director has retired.
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.