The investment consulting firm’s 58-member team and $124 billion in non-discretionary assets under advisement will move to Cresset in a deal expected to close later this year.
The city expects to see council action on a finalist in November.
William Jellison has joined the domestic small-cap growth equity manager as a research analyst.
Todd Davis has joined as a director on the direct originations team.
The hire precedes a likely second manager hire in the asset class within the next year.
The plans last rehired their incumbent to a one-year contract following a search process completed in 2024.
H.I.G. WhiteHorse Middle Market Lending Fund IV closes with $5.9 billion in assets.
The city hired its incumbent firm following a similar search process conducted in 2017.
The retirement system opted to extend its contract for general investment consulting services to a firm recently hired for plan de-risking services.
The retirement system reviewed three potential replacement options for an incumbent manager last quarter.