Hanak became cio of the plan in February after serving as senior investment officer of risk management and asset allocation.
The four investment providers received the highest evaluation scores.
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.
The firm closed its fifth direct equity co-investment fund with approximately $2.1 billion.
The selected firm will serve for an initial two-year term.
The plan adjusted its asset allocation policy to reflect its progress toward an 11% long-term private equity target and also approved two commitments in September.
The commitment represents a new relationship for the plan.
The firm was first hired in 2016.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
The firm had been on watch since the third quarter of 2019 due to underperformance.