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The incumbent submitted the sole proposal in response to the authority’s RFQ.
The plan swapped domestic small-cap core equity managers last month following a search by its investment consultant last year.
The plan is seeking a firm to handle a $15 million mandate and provide uncorrelated returns to both equity and fixed-income markets.
The plan had more than $430 million in the program at the end of 2022.
The plan made the commitment alongside approving a 3% target to the asset class at today’s board meeting.
The plan will look for a replacement global growth equity manager after terminating its incumbent this week.
The search comes as the plan’s previous executive director has since taken a position at a law firm.
The plan fully redeemed a market-neutral investment and will consider an international small-cap value equity manager hire.
The plan committed $911 million total to a core real estate strategy and three buyout funds yesterday.
The firm is being monitored due to performance and recent personnel turnover.