CIO and COO Amy McGarrity will serve as the plan’s interim executive director while the search is conducted.
The search is being conducted in anticipation of the Dec. 31 contract expiration of incumbent Nationwide Retirement Solutions.
The commitment represents a new relationship for the plan.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.
The plan liquidated its inhouse passive global equity mandate and made $1.6 billion in total commitments in April.
The fund will make pre-seed and seed venture capital investments in sectors like artificial intelligence.
The transaction is expected to close in the fourth quarter.
The new hire will report to CIO Sriram Lakshminarayanan.
The fund invests in U.S. lower middle market companies in the manufactured products, business services and consumer industries.
The district expects to notify the selected firm of the contract award on June 30.