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The fund exceeded its target with a nearly 50% increase over the firm’s second fund.
The state investment commission approved issuing the RFP earlier this week.
The plan committed $10 million to an existing real estate debt manager yesterday.
The plan’s incumbent was first hired in 1997.
The fund canceled its RFP seeking a non-discretionary investment consultant to oversee its trust fund late in the fourth quarter as the consultant’s contract was slated to begin Dec. 1.
The plan will begin its search for a cio after the general manager hire is confirmed by the city.
The plan replaced its existing domestic small-cap value equity manager due to underperformance and organizational turnover.
The transition will go into effect in October.
The plan has begun searches for international equity and core and non-core real estate managers.
The current consultant will see its contract expire this year.