The plan will consider issuing two consultant RFPs due to upcoming contract expirations and recently added a private equity commitment.
The firm’s head of business development will depart as part of a restructuring.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The commitment will help move the retirement system closer to its 30% non-core real estate target.
The plans currently work with general investment consultant Innovest Portfolio Solutions.
The new hire will assume leadership responsibilities across the firm’s $221.2 billion equities platform.
The fund received commitments from institutional investors, including endowments, family offices, foundations and public and private pension funds.
The plan liquidated a global equity mandate and made $1.5 billion in total commitments in July.
The pension plan committed $125 million to new and existing manager relationships last week.
The plan most recently renewed its general investment consultant contract in August 2022.