The retirement system hired three managers and made follow-on commitments to two existing strategies as part of an evergreen private debt search.
The plan replaced its domestic all-cap equity manager, which had been on watch since April 2022 due to underperformance.
The search is being conducted due to incumbent Empower Retirement’s upcoming May 31 contract expiration.
The new president has been with the middle market private equity firm for 17 years.
The plan last issued an RFP for the services in 2016.
The pension plan is currently managed in-house.
The board will issue two consultant RFPs on behalf of its three investment plans this year.
His prior career included serving as U.S. ambassador to Israel and coo and vice chair at Morgan Stanley.
The six commitments represent new relationships for the pension plan.