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The fund aims to provide investors access to a global, diversified portfolio of direct co-investments in buyout, growth equity and other private markets transactions.
The acquisition increases Westwood’s total assets under management by 33% to $16.3 billion.
The plan has “small exposure” to FTX across two of its venture capital managers.
The city hired a firm to provide discretionary management for its $45 million portfolio earlier this month.
The plan is seeking non-core real estate, farmland, timber and infrastructure strategies to fulfill an up to $400 million mandate.
The plan has issued the RFPs after approving the searches last month.
The plan will search for a new core-plus fixed-income firm after recent asset losses and a change in ownership experienced by its incumbent manager.
The relative strength of the U.S. dollar in recent months has industry experts feeling it is an opportune time for some institutions to expose their portfolios to currency hedging.
The plan approved RFPs for short-term TIPS, long-term government bond and short-term investment grade bond managers at a meeting held last month.
The plan added a follow-on $250 million direct ending commitment earlier this month.