The selected firm will also be expected to provide investment services related to record keeping and administration.
Jean Hsu will retire in July after 25 years at the plan.
The plan also eliminated its 20% covered calls and 2.5% REITs targets.
The firm has announced a dedicated strategy and team to lead continuation vehicle transactions.
He will be responsible for leading the firm’s institutional fundraising efforts.
The county selected a firm to provide services for its $2 billion in operating and capital funds.
There are no immediate plans to allocate funds to the manager but it will be an option for future use if needed.
The firm has added a managing director and head of private markets research from Ares Management.
The plan committed $30 million to an existing private equity manager relationship at today’s board meeting.
The managing directors will both report and work closely with Chris Freeze and David Burnside, co-heads of business development at Nuveen Private Capital.