Plan will review two funds previously narrowed from a direct lending search presented in February.
Plan will seek a real estate manager to diversify its portfolio.
She will lead the company’s research and data analytics capabilities.
Plan’s consultant is recommending a value-add commitment in 2022 or 2023.
Plan approved $125 million in new commitments in March.
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
The plan committed to existing managers’ latest funds.
Search is for two managers to handle nearly $500 million in total.
The restructuring will next eliminate three more managers next month.
She is responsible for execution of acquisition and development strategies.