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The fund exceeded its $400 million target and closed above its initial $500 million hard cap.
The retirement plan is seeking a liquid diversifying strategies manager to handle a $30 million allocation.
The firm closed NB Credit Opportunities Fund II with $2.5 billion in commitments.
The search follows the plan announing the impending departure of the incumbent executive director and cio last month.
The police and fire retirement plan is seeking consulting services after approving the search in May.
The plan had previously posted the position to the National Association of Retirement Plan Administrators website in April.
The fund will provide senior secured debt capital to middle market North American businesses.
The city will award a contract by Oct. 15.
The commitment represents a new relationship for the plan.
The plan is seeking global and international small-cap and small- to mid-cap equity managers after approving the RFP last week.