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The university will consider committing additional capital to an existing real estate strategy as the firm eyes a more robust opportunity set than anticipated and prefers to increase the size of the fund rather than raise a new one.
The firm, which allocates private debt capital to microfinance and small and medium-sized finance institutions, has promoted its coo to ceo to handle day-to-day management.
Selected firm was one of three candidates.
Plan closed on three private equity commitments totaling up to $88.5 million in May.
System initially hired Callan as general investment consultant for its defined contribution plans in December 2020 and last renewed its record keeping contract earlier that year.
The new hires include a portfolio manager and a solutions strategist.
The fund is focused on investments at the Series B and C stages.
He will assume the role of CEO once the current CEO retires on June 30.
The plan will discuss adding a 3% private debt target at its board meeting on Friday.