The new co-head has been with the firm since 2010.
The pension plan’s general investment consultant will see its contract expire next year.
The investment board expects to appoint an executive director next month.
The fund will target value-add opportunities within the U.S. multifamily sector.
The plan eliminated its TIPS target as part of a new asset allocation policy approved in March.
The commitment represents a new manager relationship for the retirement system.
The plan expects to issue an award notice on July 18.
The managing director will lead Barings’ institutional distribution in the Midwest.
The fund has received more than $390 million in commitments.
The fund surpassed its $1.5 billion target.