The new manager will complement the plan’s existing emerging markets core equity mandate with Wellington Management Company.
Plan received only one response to an RFP issued last month.
Plan will take a deep dive of the international equity space for potential options after placing a EAFE value firm on watch today.
The plan terminated an underperforming manager and added three private markets commitments.
Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
The plan approved a 3% allocation to Acadian Asset Management at its board meeting on Friday.
Plan’s private equity and real estate committees considered adding three commitments totaling $170 million last week.
The plan will interview three co-investment finalists next month for an up to $10 million mandate.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Firm’s strategy had underperformed the MSCI EAFE Index over the one- and three-year periods ending March 31.