The district received proposals from four consultants in response to an RFP issued in August.
The fund surpassed its target of $350 million.
The authority is looking for an advisor for its $600 million portfolio.
The selected firm will serve for an initial three-year period.
The plan expects to launch the search in January as its incumbent’s contract is slated to expire on June 30.
The state fund is looking for taxable municipal bond managers.
The plan last conducted a search in 2008.
The equity team of Smith, Graham & Co. Investment Advisors will join Dana Investment Advisors, sources have confirmed.
Both active and passive management faced the pressures of fee compression in 2022, according to a recently released study from investment consultant Callan.
The global investment firm expanded with three new hires.