The incumbent manager was replaced due to founder retirement, falling assets and client departures.
SageView Advisory Group has acquired institutional retirement plan consultant group Retirement Benefits Group.
The plan approved a search today as a potential alternative option to its incumbent manager.
The authority is seeking an investment manager for its defined benefit pension investment funds.
The firm raised the fund with total capital commitments of $1.4 billion.
The requested services include asset allocation, investment policy and strategy recommendations.
The three finalists to be recommended at this week’s meetings do not include the pension plan’s incumbent consultant.
The retirement system added three private commitments at its board meeting last week.
The plan launched a search earlier in April due to the incumbent’s upcoming contract expiration.
The plan is seeking buyout, growth equity and venture capital strategies.