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The fund will conduct searches for a U.S. large-cap growth equity manager and a global equity manager with a tilt toward either core or value stocks after approving a new asset allocation at its May board meeting.
The commitment is part of a private equity buildout.
The $27 million in assets will be used for liquidity purposes.
Firm has appointed Eric Pratt as chief credit officer.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan, which last conducted a similar search in 2010, will issue the RFP later next month.
The plan is looking to invest $5 million each in large-cap growth and large-cap value.
The plan’s investment committee approved a real estate commitment with an existing manager last week.
The plan amended its five-year asset allocation plan to include a maiden target to tactical opportunities and approved three pacing plans in alternatives asset classes last week.
