The plan will also receive a private credit portfolio review at today’s board meeting.
The commitments represent new manager relationships for the council.
The plan is looking to invest $10 million each with private equity and opportunistic fixed-income managers.
The state is seeking a firm to help create a special purpose vehicle for in-state investments.
The commitments include a new manager relationship and a follow-on.
The plan is searching for index managers to handle $10.5 billion.
The plan made four follow-on commitments totaling $625 million.
The plan selected two international small-cap value equity managers to conclude its search for a firm in the fourth quarter due to underperformance from the incumbent.
The firm’s second private equity fund closed nearly $300 million above its fundraising target.
The plan is conducting the search as its investment officer left the plan last month after nearly three years of service.