The new portfolio manager joined the plan this month from the California State Teachers’ Retirement System.
The pension plan agreed to keep its executive director on paid administrative leave through June at Friday’s board meeting.
The pension plan expects to commence the contract on Nov. 19.
The pension plan agreed to consider replacing its domestic large-cap core equity manager due to underperformance and a recent personnel change.
The firm closed five venture capital strategies with $1.6 billion in total commitments.
The pension plan hired five non-U.S. equity managers and approved a new private equity portfolio structure last week.
The pension plan approved a credit commitment with an existing manager relationship last month.
The pension plan’s cio recently approved two real assets commitments.
The search stems from the upcoming Jan. 31 contract expiration of incumbent Empower Retirement.