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The investment will be with a newly formed local and minority-owned manager.
Plans investment committee will review three proposed alternatives commitments this week.
The plan invested up to $15 million total into two diverse-owned private credit managers on Friday.
The plan hired launched a private equity manager search and wrapped up another in real estate.
The plan recently hired a domestic small- to mid-cap growth equity manager and terminated a domestic large-cap firm.
The plan is seeking a single firm to provide consulting on traditional and alternative investments.
The manager stepped away from his existing funds effective today.
Remaining team members will absorb the portfolio manager’s responsibilities.
The new hire will oversee the firm’s $32.7 billion real estate equity portfolio, which includes core, core-plus, build-to-core, value-add and opportunistic strategies.
A Midwestern county is searching for a firm to oversee a portion of its $240 million in operating and capital funds.