The plan was notified of a manager termination as well as two redemptions at its Sept. 11 board of investments meeting.
Shelly Heier, president of investment consultant Verus, will depart the firm effective Sept. 30.
Mandates include global, U.S., non-U.S., emerging markets, customized funds, factor or risk-based indices and underlying components of target date funds.
He will focus on the infrastructure, utility, power, energy and related sectors across the capital structure.
The firm raised more than $3.3 billion for its latest opportunistic real estate strategy.
The selected firm will service the county’s investment portfolio and the county school district’s general and bond portfolios.
The “overwhelming majority” of LP participants in a recent survey planned to either increase or maintain their allocation to alternative investments in the next year.
The new hire will focus on deepening and expanding the firm’s relationships with existing and prospective institutional investors and consultants.
The plan has transitioned away from a general investment consultant relationship.
The city issued an RFP for its investment portfolio, which was previously handled by the director of finance.