The plan’s hedge fund committee approved an investment last week that will occur in either the fourth quarter or first quarter.
The plan hired a new global equity manager to handle a $500 million mandate and added 13 other commitments last month.
The proposed fund liquidation would remove the value-tilt within the plan’s global equity portfolio.
The plan will consider swapping one target-date fund manager for Vanguard Group to cut costs.
The plan committed $50 million to a new venture capital manager last week.
The plan liquidated its $8.5 million hedge fund-of-funds mandate in May.
The new chief financial operating officer will join the plan on Aug. 22.
The plan has replaced emerging markets equity manager Newton Investment Management, which it had been monitoring.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan last committed to Vision Ridge Partners in 2021.