One fund is dedicated to early-stage investing while the other focuses on venture growth-stage opportunities.
The fund exceeded its target with a nearly 50% increase over the firm’s second fund.
The state investment commission approved issuing the RFP earlier this week.
The fund closed with $700 million in capital commitments.
The plan made the hires after restructuring its international equity and U.S. fixed-income manager portfolios.
John Mendell has joined the firm as a managing director in its investor relations group.
The plan voted to issue an RFP for the services due to the upcoming contract expiration of one of its providers.
John Ceffalio joined the firm as head of municipal client portfolio management.
The plan approved commitments of up to $40 million each to two strategies.
The plan will look to commit $100 million to private equity and $60 million to real estate this year.
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