The plan is seeking to fill a position left vacant by Mike Barnhill, who joined the $76.7 billion Alaska Permanent Fund Corporation as coo last month.
The plan’s contract with incumbent Nationwide Retirement Solutions expires on Dec. 31.
The fund invests in the consumer, healthcare and technology sectors.
He will oversee LongRange Capital’s deal origination and sourcing activities.
He will focus on furthering the firm’s institutional business development objectives in North America.
The selected firm will serve an initial three-year term beginning July 1.
He most recently served as a managing director and chief development officer at The Carlyle Group.
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan’s private equity committee received two investment recommendations earlier this month and approved two commitments in February.