The plan invested up to $15 million total into two diverse-owned private credit managers on Friday.
The firm had suffered from asset decline and underperformance.
Plan replaced its domestic small-cap value equity manager from a group of three candidates this week.
The plan opted to temporarily move to an index fund while a domestic equity structure study is conducted after the firm’s existing manager recently announced significant organizational changes.
Plan is seeking a domestic small- or small- to mid-cap equity manager to fill a recent gap in its emerging manager program stemming from a graduation.
The new hire will be responsible for equity research on the growth equity manager’s investment team.
Plan will hear potential options related to its international large-cap value mandate due to the underperformance of its current manager.
Plan approved two new fixed-income investments as part of an overall portfolio transition.
The new hire will build out and spearhead the firm’s investor relations team.
Commitments to private equity fund-of-funds and secondaries will help to rebuild private equity allocation.