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The global asset manager has named two staff members to its executive board as one of its heads is set to retire.
The fund approved private equity and private credit commitments with existing managers as recommended by its general investment consultant last week, with more recommendations expected in the coming months.
The institution has hired a new cfo to help oversee its investment portfolio.
The fund will review its investment policy and target asset allocation and may consider recommendations to change the policy at its board meeting.
Retirement system is seeking a pool of managers to provide the services.
Fund was oversubscribed and closed above its initial hard cap of $6 billion.
The assets will be indexed and no replacement search is planned.
The search is being conducted due to incumbent Empower Retirement’s upcoming May 31 contract expiration.
The plan has filled its executive director vacancy from another retirement system in the state.
The plan hired a pair of domestic small-cap growth equity managers last week.