The commitments represent the plan’s first investment in the asset class.
The consultant will be responsible for a $3.7 billion opportunity portfolio.
The plan terminated its current global long/short hedge fund-of-funds manager.
The plan terminated its international small-cap equity manager after closed session discussions.
A total of three firms will be interviewed at a special board meeting this week.
The plan will commit up to $3.9 billion to private equity, private credit and real assets.
The officer was responsible for identifying innovative approaches to diversification, enhancing returns and reducing fees.
The plan will discuss an executive director replacement search at a future board meeting.
Plan approved a $7 million investment in a credit hedge fund at today’s board meeting.
The plan will hear presentations on three private debt managers next month.