The search comes as the plan’s incumbent will see its contract expire this year.
The secure choice savings program was created in 2021.
The plan established a 2% allocation to the asset class earlier this year.
The plan hired a new manager for domestic large-cap growth equities during a meeting today.
The plan expects to commit $225 million total to real estate this year.
One of three portfolio managers on the international equity team departed.
The commitments include two new relationships for the plan.
The plan made private credit commitments after presentations in closed session.
The plan will receive a list of active and passive candidates next month.
The plan will conduct the search in an effort to generate higher returns.