The plan made three commitments with existing manager relationships.
The commitments made last quarter totaled nearly $20 million.
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The city last conducted a similar search in 2019.
The plan’s internal investment team is also expected to join the firm this year.
The search is a result of a new asset allocation.
The retirement system could not come to an agreement with its previously hired manager.
The plan’s current manager was first hired in 2017.
The search is open to both equity and debt strategies.
The plan is looking to invest $7 million with value-add real estate funds.