The plan approved a new $250 million mandate with a REIT manager and announced investment staff promotions.
The previous CEO is staying on as President and Chairman.
He focuses on debt investment originations and capital formation.
The transaction was completed on Jan. 28.
Plan will further discuss a fee proposal with at least one firm before making a selection in a general investment consultant search.
He has served as president and ceo since April.
The fund closed with over $4.8 billion in commitments.
The plan approved a total of up to $25 million to two funds at its board meeting today.
The new hires will permanently fill the positions that were left vacant following two resignations last year.
The plan launched the search to fill the newly created position.