The commitment represents a new relationship for the plan.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.
The plan liquidated its inhouse passive global equity mandate and made $1.6 billion in total commitments in April.
The fund will make pre-seed and seed venture capital investments in sectors like artificial intelligence.
The transaction is expected to close in the fourth quarter.
The new hire will report to CIO Sriram Lakshminarayanan.
The fund invests in U.S. lower middle market companies in the manufactured products, business services and consumer industries.
The district expects to notify the selected firm of the contract award on June 30.
The plan expects to announce an intent to award on June 15.
The plan committed $90 million total to new and existing manager relationships yesterday.