The selected firm’s responsibilities will include investment management and consulting services in addition to financial wellness consulting.
Jones joined the $79.2 billion Teachers’ Retirement System of Illinois as its deputy cio in 2023 following a tenure at general investment consultant Meketa Investment Group as a managing principal and consultant.
Firm partners with Fiduciary to enhance service offerings and build upon the independent wealth manager and trust company’s 140-year history.
The retirement fund also approved an Africa-focused private equity commitment earlier this month.
The pension system is also scheduled to review a 2026 pacing plan for private credit at this week’s board meeting.
The firm also surpasses $1.75 billion in regulatory assets under management.
Fundraising surpassed the firm’s goal in 10 months with over $500 million in total commitments.
The firm welcomed back a former team member to co-lead its emerging market debt team.
The plan’s investment committee and general investment consultant recommended a manager change following a search presentation earlier in the year.
The city maintains an investment portfolio averaging $40 million comprised primarily of certificates of deposit.