The managing director recently left the institution to join a global, multi-asset endowment-style fund that was formed by a former colleague as a partner.
The college savings plan approved adding a passive international equity comingled fund to its portfolio at the expense of two actively managed funds to reduce risk and lower management costs.
The system hired a director of investments for public equities from a southern defined benefit plan, where they served in a similar role, following a search from earlier this year.
The foundation recently launched an impact investing strategy with a $5 million commitment intended to advance racial equity in the area or other strategic areas, including youth, public safety, economic opportunity and neighborhoods.
The managing director overseeing impact investment funds left the foundation in June to launch their own firm that aims to design, build and implement impact investment programs at philanthropic groups.