REIT
The plan will commit up to $3.9 billion to private equity, private credit and real assets.
Search is for two managers to handle nearly $500 million in total.
The plan placed a firm on watch for failing to meet performance criteria and eliminated its REITs managers to reduce overall volatility within its real estate portfolio.
Commitment represents a new relationship for the plan.
Selected international large-cap growth equity manager will handle between $1 billion and $2 billion and the U.S. REIT manager will manage between $100 million and $200 million.
The plan concluded a global equity search conducted in the fourth quarter.
The searches will go live on May 2.
The search is due to the expiring contracts of two incumbents managing a total of $440 million.
