The firm’s head of business development will depart as part of a restructuring.
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The commitment will help move the retirement system closer to its 30% non-core real estate target.
The plans currently work with general investment consultant Innovest Portfolio Solutions.
The new hire will assume leadership responsibilities across the firm’s $221.2 billion equities platform.
The fund received commitments from institutional investors, including endowments, family offices, foundations and public and private pension funds.
The plan liquidated a global equity mandate and made $1.5 billion in total commitments in July.
The pension plan committed $125 million to new and existing manager relationships last week.
The plan most recently renewed its general investment consultant contract in August 2022.
The plan’s real estate committee received four investment recommendations on Wednesday and approved a commitment in May.