The hire is a result of a new asset allocation adopted last month.
The commitments were made in closed session at a special board meeting this week.
The search is due to the upcoming closure of its incumbent U.S. small-cap core equity manager.
The plan will invest in a newly formed local and minority-owned asset manager.
The plan hopes to use proceeds to invest in other opportunities.
The plan is searching for a firm to replace an incumbent manager that has closed.
Commission is searching for emerging market debt and passive index mangers on behalf of its pension fund and OPEB Trust.
The plan has begun its search for a maiden infrastructure manager.
The plan has launched a general investment consultant search previously delayed due to COVID.
The plan recently made a venture capital and a value-add real estate commitment.