System initially hired Callan as general investment consultant for its defined contribution plans in December 2020 and last renewed its record keeping contract earlier that year.
The new hires include a portfolio manager and a solutions strategist.
The transaction closed on June 10.
The fund is focused on investments at the Series B and C stages.
He will assume the role of CEO once the current CEO retires on June 30.
The plan will discuss adding a 3% private debt target at its board meeting on Friday.
Plan committed an additional $350 million to its in-state private equity investment program, which was established in 2000.
The plan last conducted a search over 10 years ago.
The plan opted to rehire its general investment consultant following a search launched earlier this year.
Incumbent’s contract will expire on March 31.