The foundation has issued an open-invitation RFI after finding a “disappointing lack of diversity” in its initial research into firms.
The plan currently has $1.4 billion invested in custom target-date strategies.
The plan will look to evaluate the marketplace for lower management fees, with an emphasis on Collective Investment Trust vehicles.
The new initiative includes a five-part strategy that includes education, recruitment, mentoring and training, retention and community engagement.
The fund hired its current investment consultant in 2016.
The plan was searching for a replacement to Kent Custer, who joined the Illinois Police Officers’ Pension Investment Fund last year.
The $319.8 billion California State Teachers’ Retirement System made 14 private equity commitments and 19 co-investments in the second half of 2021, according to a recent report.
The hire follows the retirement of a long-time investment team member.
The cio will oversee approximately $274 billion in assets from five pension systems.
The move to divest U.S. institutional investors from Russian holdings has moved to the federal level.