The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.
The new ceo is responsible for the investments, operations and expansion of the firm’s private equity business.
The transaction represents ISCG’s 12th GP investment since its inception in 2019.
The retirement system terminated its domestic core real estate manager after being informed of its underperformance and personnel changes in December.
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.