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The railway’s board is searching for an investment advisor to help implement a trust fund, which will have an initial $1.6 billion allocation.
The retirement plan has narrowed its core fixed-income search to two finalists.
The pension plan recently committed approximately $2.2 billion total to eight funds and terminated an existing credit strategy.
The plan intends to issue RFPs for active core fixed-income and domestic small-cap value equity managers next month.
The plan made hires following finalist interviews last week, concluding two RFP searches.
The plan has not made a new commitment to private equity since 2014.
The plan’s cfo has been serving as its acting cio since last year.
The firm raised a record $5.2 billion of capital commitments for the fund.