The plans issued an RFP last month after their outsourced cio was acquired and exited the municipal business.
The plan approved an asset allocation in March that introduced new targets to international small-cap equity and infrastructure.
The investment was made through the Petershill program, which provides capital to leading alternative asset managers.
The plan also terminated a bank loan manager at its March board meeting.
Firms can submit a proposal for either or both pension plans.
The firm will provide investment management and advisory services for the city’s $157 million investment portfolio of operating and capital funds.
The redemption followed a new asset allocation approved last month that lowered the plan’s real estate target.
The city is seeking firms to provide investment advisory and/or management services.
The plan hired a new core fixed-income manager in March to replace an underperforming core-plus incumbent.
The city has never utilized a firm for the services and the manager will handle a portfolio of roughly $70 million.