The new manager will complement the plan’s existing core real estate mandate with Invesco.
The plan’s board committed $50 million total to a new private equity manager and was notified of a $30 million co-investment yesterday.
The plan first decided to switch to an outsourced cio model in 2020.
The plan added three private credit commitments to move closer to its 6% target allocation.
The plans concluded a search launched last year in anticipation of four contract expirations.
The plan last relaunched the search in October after not receiving any responses to the initial search.
The search follows the plan’s approval of a one-year agreement with incumbent Innovest Portfolio Solutions.
The new manager will complement the plan’s existing emerging markets core equity mandate with Wellington Management Company.
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
Plan committed $100 million total to a new credit manager and an existing real estate manager yesterday.