The plan will also eliminate its long/short equity portfolio.
The plan made a farmland commitment after starting a search last year.
The consultant will be responsible for the plan’s stable value fund.
The current consultant was first hired in 2016.
The private equity director retires next month after serving in the position since 2017 and at the plan since 1998.
The incumbent was also the lone bidder to an RFP.
A partner and director of research left the plan’s domestic large-cap value equity manager this month.
The new executive director/cio will be responsible for close to $125 billion in assets.
The new consultant will provide private credit and credit consulting services.
The commitment is part of the plan’s annual pacing schedule.