The plan will also terminate two existing hedge fund managers.
The retirement system is looking to invest up to $15 million to the strategy.
The plan also made two private equity commitments at its board meeting today.
The retirement system also recently hired a new international growth equity manager.
The city also recently consolidated its record keeping services with one firm.
The incumbent manager is currently on watch for performance reasons.
The commitments include two new manager relationships for the plan.
The plan is seeking an investment officer for its $3.5 billion real assets portfolio.
The retirement system’s sole REIT manager handles $17 million.
The commitments include a new relationship for the plan.