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The private equity firm’s oversubscribed low middle market buyout strategy was double the size of its predecessor fund.
The city previously launched a search in October as the plan has not utilized an investment consultant.
The plan approved the search at its board meeting earlier this week and has a 6% target to global multi-sector fixed-income.
The firm will provide investment consulting services for approximately $80 million to $100 million in operating and capital funds.
The new chief U.S. economist succeeds Ellen Gaske, who retired after 26 years with the firm.
The city issued the RFP in April due to the incumbent’s contract expiration.
The fund reached its hard cap of $633 million on June 30 after launching fundraising at the end of February.
The plan will consider first-time investments in private equity and private credit strategies.
The institution is set to acquire a nearby campus from a Catholic Institution as it has experienced shrinking enrollment numbers and budget gaps.
The institution was named as having the “Best Emerging Manager Program” based on an a survey of institutional clients of a global fintech platform, beating out large and prominent public pension plans and endowments.