Plan committed an additional $350 million to its in-state private equity investment program, which was established in 2000.
Program is seeking up to two firms to handle four investment options.
Investment officer will source, research and conduct due diligence on private equity investments for the plan.
Plan currently works with general investment consultant Innovest Portfolio Solutions.
Plan will expand its team with the addition of two senior investment officers to focus on private markets and an investment officer to assist in managing its public market portfolios.
Plan will seek a real estate manager to diversify its portfolio.
Plan promoted its deputy cio to replace Robert Clark, who submitted his intent to resign in April.
Plan’s board committed $130 million to a private equity energy fund and was notified of an additional private equity commitment this week.
Plan’s new 4% target to private equity will help increase its expected return.
Lincoln Financial Group ranked above incumbent Nationwide Retirement Solutions following finalist interviews.