Janus Henderson will rank among the top 10 model portfolio providers in North America upon the transaction’s close.
The retirement plan approved a new long-term asset allocation policy and 2026 private markets pacing plan in the fourth quarter.
The division head will retire at the end of the year.
The analyst serves on the internal portfolio management team.
The new hire joins the firm from Sixth Street.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
The fund close represents Heitman’s “largest closed-end fundraise to date.”
The retirement association was notified of private equity and real assets commitments last week.
The board hired domestic and international all-cap equity managers last quarter.
The fund exceeded its hard cap of $1 billion.