The duo will support the firm’s expansion into U.S. real estate equity.
The plan expects to approve a recommendation in the third quarter.
The firm added two associate directors and made 12 promotions effective Jan. 1.
The transaction will occur over the course of two years.
The managing directors have been with the private equity firm for nearly 10 years.
He previously served as president and ceo of Marsh McLennan.
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.