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.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
The plan committed $25 million to a buyout strategy last month.