The manager represents a new relationship for the retirement system and the first commitment in its annual pacing plan.
The pension fund hopes to make a commitment in its infrastructure secondaries search this month after narrowing it to three firms.
The commitments include three new manager relationships for the pension plan.
The retirement system hired two firms to manage its 51% private markets portfolio.
The plan’s current private markets co-investment manager will see its contract expire at the end of the year.
The retirement plan hired several managers to move toward its new asset allocation policy.
The retirement fund is scheduled to hear proposed real estate and infrastructure pacing plans at next week’s investment committee meeting.
The plan is considering a 5% dedicated allocation to the new asset class.
The retirement fund terminated a fixed-income manager and made commitments totaling $2.9 billion in March.
The retirement system’s ad hoc search committee will conduct on-site visits with three firms in June.