The commitments were approved by the plan’s private markets committee at a meeting yesterday and require full board approval later this month.
The plan expects to interview two finalists at its November investment committee meeting.
The plan’s board will vote on a recommendation at a meeting later this month following finalist interviews this week.
The district is looking to consolidate from three advisors to a single firm to provide the services for various funds.
The plans are also in the process of scouting for a record keeper.
The Rhode Island plan is working to fill the position in the interim.
The searches follow establishment of new sub-asset class targets of 11% to broad fixed-income and 3% to high-yield within its overall fixed-income target earlier this year.
The defined contribution plan has issued an RFP seeking investment consulting services.
The plan made a hire last month after issuing an RFP for advisory and investment consulting services in April.
The districts issued an RFP earlier this year to consolidate to a single provider.