The plan received four proposals to an RFP issued in June.
The deferred compensation plan has issued an RFP for up to four fixed-income managers.
The commitments fulfill the plan’s 2026 real assets and private equity pacing plans.
The new firm will complement two existing managers within the plan’s international equity portfolio.
The retirement fund also terminated a domestic large-cap value equity manager at a board meeting today.
The position will be responsible for quantitative and qualitative research on prospect managers and strategies.
The retirement board hired a new manager to handle its entire portfolio after issuing an RFP last year.
The two managers were placed on watch last quarter for performance reasons.
The plan hired two of five firms interviewed for the mandate last week.
The plans adopted the new asset allocation following an asset study by their general investment consultant.