The plan will issue an investment consultant RFP in the coming months due to upcoming contract expirations and recently made two private equity commitments.
The plan committed $11 million across four private equity managers as part of the implementation of the asset class.
The plan hired an existing manager to temporarily handle a roughly $70 million allocation and announced the promotion of an investment officer at a meeting yesterday.
The plan committed $12 million total to its new private equity and private credit asset classes.
The plan recently placed an international large-cap equity manager on watch due to underperformance and made $80 million in total private equity commitments.
The plans terminated an international value equity manager, which had been on watch, and hired a record keeper and custodian last week.
AIG Retirement Services currently serves as the plan’s record keeper.
The firm had been on watch since August 2021 due to underperformance.
The pilot program is expected to launch in mid-October and implementation is slated for January.
The plan committed $60 million total to two existing managers this month.