The pension plan liquidated its approximately $210 million domestic small- to mid-cap growth equity and made commitments totaling $120.5 million in November.
The district issued an RFP in May as the plans had not previously utilized an advisor.
The pension plan expects to conclude the search at its June 12 board of investments meeting.
MissionSquare Retirement previously provided record keeping and administrative services for the authority’s plans.
The transaction adds $142 billion in assets to Franklin Templeton.
The town has hired a new record keeper for its deferred compensation plan.
The pension plan made two private equity commitments in August for pacing purposes.
The pension plan’s hedge fund committee approved four commitments and a manager termination at its meeting in October.
The pension plan created stand-alone target allocations for real estate and infrastructure and recently added a new member to its investment staff.
The pension plan will consider potentially replacing its international small-cap core equity manager due to underperformance.