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The plan added a third investment officer as it continues to build out its investment team.
The commitments include follow-on and first-time fund commitments for the plan.
The search may fill two vacancies within the plan’s investment staff.
The partnership will enhance AMG’s exposure to secular growth areas and facilitate an increase in Ara Partners’ management equity ownership in the firm.
The retirement system appears to have last conducted searches for the services in 2014.
The retirement system last conducted a similar search in 2021.
The plan will consider issuing a general investment consultant RFP due to an upcoming contract expiration.
The new state investment officer joins from an Illinois-based defined benefit plan.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The more than $5 billion plan is looking for a general investment consultant to review investment performance and the investment lineup as well as assist with manager searches and selection.