The $50 million in total commitments is subject to board approval next week.
Nick Gray joins as managing director to lead insurance solutions for the firm’s $28 billion credit and real estate platform.
The city council approved the agreement at last week’s meeting.
The city is seeking bundled services on behalf of its $305.9 million deferred compensation and $2.1 million defined contribution plans.
The search stems from the previously announced retirement of Executive Director and CIO Cheryl Alston.
Sarah Cole has been appointed as partner and co-head of the Ares Global Capital Solutions team.
The city is seeking investment advisory services on behalf of its $305.9 million portfolio.
The city is seeing discretionary investment management and consulting services on behalf of its approximately $75 million managed portfolio.
The retirement system also wrapped up its first fiscal year as an independent entity by outperforming its benchmark by more than 100 basis points.
The pension plans had been expected to move a portion of a previously terminated U.S. all-cap value equity mandate to the new small-cap value manager.