The plans previously agreed to move their active domestic large-cap growth equity asset class to a passive mandate in December.
The pension plan received a recommendation from staff to amend its private equity sub-asset class targets last week.
The search is being conducted due to the current chief risk officer’s retirement.
The firm has hired a managing director of special situations.
The strategy exceeded its initial fundraising target of $450 million.
The pension plan first issued an RFP seeking one or two separate account managers to establish emerging manager programs for real assets and real estate in January 2023.
The commission received two proposals in response to an investment consultant RFP issued in August.
PFM Asset Management currently serves as the county’s investment advisor.
The new hire reports to Partner and Defined Contribution Team Leader Bill Ryan.