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Plan is seeking emerging market debt managers to handle an allocation ranging between roughly $700 million and $1.12 billion.
The plan rehires its value manager, believing it will outperform growth going forward.
Chicago-based firm has been acquired by accounting and advisory firm BDO USA.
The plan will not move forward with the hire after learning of personnel departures.
The new hires will lead the firm’s North American institutional and consultant relations teams.
The transaction is expected to close early next year.
Plan narrowed a private lending search to three funds for future on-site visits and finalist presentations.
The plan is conducting the domestic mid-cap core equity search due to portfolio management changes at its incumbent, while the large-cap growth hire was made following an RFP issued last year.