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Less than 1% of plans offer illiquid alternative investments.
Two managing directors will be promoted as successors.
The plan announced its next cio will be an investment officer currently with the plan.
The new investment officer, who replaces an outgoing officer, will begin next week.
The plan will interview three finalists in its search to replace Executive Director Angela Rodell, who was terminated in December.
The new strategic asset allocation increases its private equity and private credit targets.
The plan will issue RFPs within the next two months due to standard state procurement laws.
The commitments are part of a search for value-add, debt and opportunistic strategies.
The plan is losing a longtime member of its investment team, who will join a neighboring state pension system.
