The search is due to the upcoming contract expiration of incumbent Empower Retirement, which is invited to rebid.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The authority received three proposals in response to an RFP issued in April.
The pension plan introduced a 2% target to real estate debt as part of a new asset allocation policy adopted last month.
The head of U.S. high-yield fixed-income will retire in March after a 30-year tenure with the firm.
The pension plan agreed to keep its executive director on paid administrative leave through September at Friday’s board meeting.
The plan hired a passive international equity manager to replace an active mandate in May.
The defined contribution plans have issued a general investment consultant RFI for best practices.
The pension plan has also hired a senior investment analyst of real assets.
The pension plan recently made $1.8 billion in total commitments across its dynamic strategies, private equity and real assets portfolios.