Plan will issue an RFP seeking one core and one core-plus fixed-income manager to each handle 12% allocations on Tuesday.
Plan terminated its passive fixed-income manager to improve historical risk-adjusted performance.
Plan made commitments to eight existing managers and one new manager last month.
Plan committed $50 million to a new core-plus real estate manager this month.
The European core-plus real estate manager will help move the plan closer to its 15% real estate target.
Plan added a $3 million real estate commitment to stay aligned with its investment policy statement.
The plan will consider core-plus real estate strategies after delaying a commitment over concerns with the fund’s allocation to the single-family rental home sector.
The three firms will evenly split a $255 million mandate.
The plan’s real estate committee made two commitments with existing managers and one commitment with a new manager last week.
The plan disclosed ten commitments totaling almost $1 billion at its board meeting last week.