Plan staff is seeking board approval of direct lending and core-plus real estate commitments this week.
Consultant recommended small-cap value manager search as part of a U.S. equity structure review presented last month.
Firm’s strategy had underperformed the MSCI EAFE Index over the one- and three-year periods ending March 31.
African American-owned ReedsBay Investment Group is a commercial real estate firm investing in opportunities for which traditional capital is relatively limited.
Plan added up to $1.6 billion in private equity and real estate commitments and disclosed a new private equity investment officer hire.
Plan re-upped with a direct lending manager already managing funds in its portfolio.
Plan hired an Illinois-based firm to provide third-party administration services.
Plan invested $230 million across two international growth mandates in the first quarter.
Plan closed on three private equity commitments totaling up to $88.5 million in May.
Former portfolio manager will reunite with the plan’s former deputy cio in the new position.