The retirement system will also launch a search for private credit managers next year.
The plan will replace its core-plus and global opportunistic bond managers.
The plan instructed its consultant to prepare an analysis of alternative firms to its incumbent core-plus bond manager.
The plan’s investment committee is recommending hiring two firms.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The dismissals were due to increased operating costs and management fees.
The plan’s current investment consultant was first hired in 2018.
The investment officer joins from another West Coast county pension plan.
The plan is also conducting a consultant search for informational purposes.
The plan is looking to commit $10 million to the asset class for pacing purposes.