The plan expects to issue an RFP this year seeking a core-plus fixed-income manager to handle between $100 million and $150 million.
The selected firm will also provide services for the city’s approximately $137.9 million 401(a) and $23.5 million Retirement Health Savings Plans.
The plan will consider three pacing plans at its board meeting this week and recently added a private equity commitment with an existing manager.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The bill will now advance to the Ohio House of Representatives.
The plan made commitments totaling up to $321.4 million this week and was informed of a private equity co-investment.
The plan’s private equity committee received three investment recommendations last week and made two commitments in March.
The plan transferred the assets to an existing Standard & Poor’s 500 Index mandate last week.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The plan initially launched its search to replace Christina Elliott in January.