The plan had been expected to conduct a search for the services due to its incumbent’s upcoming Dec. 31 contract expiration.
The plan issued an RFP earlier this year due to the incumbent’s upcoming contract expiration.
The new manager will split the plan’s fixed-income portfolio with its existing core manager.
The plan hired a new manager to replace its underperforming incumbent.
Palladium Equity Partners has promoted Daniel Ilundain to president.
The plan interviewed two finalists at today’s board meeting after launching a search earlier this year.
He joins from Morgan Stanley Investment Management, where he was cio and deputy portfolio manager for its largest core fund.
The plan will interview two finalists at its board meeting this week.
The town will stick with its incumbent manager to oversee its portfolio.
The plan is searching for a firm to provide a variety of investment advisory, monitoring and reporting services for all private markets and alternative investment strategies.