Plan approved four fund commitments totaling more than $360 million today.
The current director is retiring after more than 10 years in the position.
The firm replaces a manager that is closing next month.
Plan will ultimately move an approximately $300 million mandate to a more focused strategy from its incumbent.
The trust hired Invesco to manage the new asset class.
The commitments include three first-time investments.
The plan hired one firm to handle both general investment and alternatives consulting services.
The plan has concluded its search for global equity managers with two hires.
The manager has underperformed its Russell 1000 Growth Index.
The commitments include two new relationships for the plan.