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The plan also disclosed private equity, real estate and strategic investments from the third quarter.
The plan created a 3% target to private equity at its board meeting this week.
The plan will begin with a mid-cap growth equity manager search in January.
The funds target investments in late- and mid-stage growth companies.
The firm announced the closing of Sumeru Equity Partners Fund IV at the hard cap with $1.3 billion in total capital commitments.
The plan, which has not had a cio in the past, is looking to fill the position.
The strategy will be new for the trust fund, which is looking to fill a $3.4 million mandate.
The plan has decided to stick with its incumbent to provide investment management services for its approximately $1 billion portfolio.
Contracts of the plan’s incumbent managers are expiring.