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The institution approved a commitment from its endowment to a lower middle market buyout strategy with a new manager at the recommendation of its general investment consultant.
The plan made its first commitment to private debt at its board meeting yesterday.
The organization is searching for an investment consultant to assist with strategic investment planning, investment manager due diligence, investment market research, portfolio monitoring and investment performance measurement.
The county has four retirement plans totaling $441 million.
The search comes after the incumbent was hired for a three-year contract in 2019.
The plan’s current managers handle aggregate mandates of $25.6 million.
The search will be conducted as part of a new policy to review vendor services every five years.
Plan is seeking closed-end funds for a $10 million to $15 million mandate.
The commitments include two custom mandates.