The plan hired two firms to implement emerging manager programs of up to $400 million each for real estate and real assets.
The village received seven proposals in response to an RFP issued in June.
The search is being conducted as part of a new fixed-income portfolio structure.
The general investment consultant will serve for an initial one-year term with the option to renew for four additional one-year terms.
The retirement fund also disclosed commitments totaling $1.1 billion in September.
The retirement system will also see its executive director retire on June 30.
The selected firm will serve for an initial two-year term beginning March 1.
The retirement system terminated a domestic large-cap core equity manager earlier this month.
The appointment is part of a realignment of Prudential Financial’s senior business leadership structure.