The plan currently works with general investment consultant Gallagher Fiduciary Advisors.
The retirement plan eliminated its floating rate bonds target allocation as part of a newly adopted policy last month.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The transaction is expected to close in the second quarter.
The deferred compensation plan will also consider replacing its multi-strategy real estate manager this week.
The retirement system also approved a 2026 private markets pacing plan in January.
The pension plan added three new managers to its equity portfolio last week.
The new hire previously launched Morgan Stanley’s Fiduciary Consulting Group in 2021.
The deferred compensation plan replaced its domestic large-cap value equity manager in the fourth quarter.
The new asset allocation will “bring down projected volatility” for the city’s three pension plans.