The lawsuit alleges fraudulent share sale and breach of fiduciary duty by the firm.
The plan launched a search in July as its previous manager no longer services municipal clients.
The firm was terminated from an approximately $102 million domestic core-plus fixed-income mandate last month.
The plan is also slated to kickstart an asset/liability study and will see the results early next year.
The plan approved a new long-term asset allocation that includes a maiden 4% target to private credit at its board meeting today.
The firm closed the most recent vintage of its small business lending strategy with over $580 million.
The plan began screening for several bond strategies earlier this summer.
The city hired two firms on behalf of its three retirement funds, replacing an underperforming incumbent.
The plan’s U.S. large-cap equity portfolio is now held in one passive mandate.
He joined the firm this summer as a senior advisor and now takes on a full-time role at the firm.