The search may fill two vacancies within the plan’s investment staff.
The partnership will enhance AMG’s exposure to secular growth areas and facilitate an increase in Ara Partners’ management equity ownership in the firm.
The plan will consider issuing a general investment consultant RFP due to an upcoming contract expiration.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The investment advisor will serve for an initial three-year term with the option to renew for two additional one-year terms.
The new investment consultant was hired last week following a search that was relaunched in May.
He will lead Stone-Goff’s origination efforts focused on investment opportunities in coordination with its senior deal-team.
The pension plan agreed to increase its global equities target by reducing its global private equity target from Oct. 1 through Dec. 31, 2024.
The pension plan’s hedge fund committee considered four commitments and a manager termination at its meeting this month.
The fund closed at its hard cap of $600 million in under four months.