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Pension division issued an intent to award notice in a high-yield fixed-income manager search launched in 2021.
The pension plan is seeking passive index and transition advisory services as it readies a long-awaited transition out of a larger fund.
The retirement plan is looking to replace an existing core-plus fixed-income manager.
The alternative asset manager has formed a three-member private credit team.
The plan will consider hiring two domestic equity managers to replace existing mandates with the same firm.
The retirement system also terminated an international growth equity mandate.
Appointment comes in anticipation of the incumbent’s impending retirement.
The firm raised the fund with total capital commitments of $1.4 billion.
The requested services include asset allocation, investment policy and strategy recommendations.
The three finalists to be recommended at this week’s meetings do not include the pension plan’s incumbent consultant.
