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The plan committed $50 million to a fund focusing on U.S. industrial warehouse opportunities.
The previous CEO has assumed a global position as Chief Risk Officer.
He will develop, maintain and deepen relationships with national firms.
They will focus on value-added infrastructure investment.
Two portfolio managers from Newton Investment Management have been hired as successors.
The town is looking to consolidate its record keeping services to one firm.
The plan will bring on an executive search firm to assist with finding a replacement for Russell Niemie.
Plan is conducting on-site visits with three finalists ahead of a selection scheduled for next month.
The search comes less than a year after the fund hired its current real estate consultant.
The acquisition broadens First Eagle’s credit capabilities, the firm said.