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The plan will fund the new manager by selling off current fixed-income investments.
The plan appointed an interim executive director at today’s board meeting while it conducts a search to permanently fill the role.
The firm brought on a former member of investment consulting firm NEPC’s healthcare practice.
The firm announced a strategic minority investment by Hunter Point Capital and ADQ.
Ramos recently joined Macquarie Group’s Optimum Trust Fund as a global investment officer and independent director.
The hire concludes an RFI that was sent to seven overlay managers in September.
The plan recently committed to four private markets managers.
He joined the firm in September from Stockbridge Capital Group.
The plan is set to receive pacing plans for private equity, real assets and credit this week.
The plan made a hire in a manager-of-managers search launched in June.