New allocation is contingent on full board approval after receiving approval from the investment committee this week.
Firm has closed its second fund with total commitments of approximately $410 million.
Plan expects to add private equity commitments totaling $60 million following investment committee approval earlier this week.
The plan rehired its incumbent general investment consultant following finalist interviews held on Monday.
Firm closed the inaugural fund with over $1.2 billion in capital commitments.
Massachusetts Mutual Life Insurance Company will transition its direct private investments team to Barings.
The firm welcomed a former team member as a co-portfolio manager on one of its large-cap growth strategies.
The plan disclosed $183.5 million in recent private equity, private credit and real assets commitments this week.
The firm appointed a managing director of fund strategy and development to support its capital raising, investor relations, strategy and product development.
The growth equity manager announced two promotions.