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The retirement system replaced an underperforming U.S. small-cap value equity manager last quarter.
Ampersand 2026 Limited Partnership closes with $1.5 billion in commitments.
The firm terminated a roughly $100 million mandate and will use the proceeds to support benefit payments and fund capital calls.
The authority is seeking retirement investment advisor and consulting services on behalf of its $91 million defined contribution and $22.2 million deferred compensation plans.
The plan retained its incumbent in 2020 following a similar search.
The plan is nearing a global core equity manager search as it looks to fill a new underlying 20% allocation.
The investment consultant was also rehired in 2019 following a similar RFP process.
The retirement plan also made a private equity commitment in the first quarter.
The plan terminated its incumbent mid-cap core manager last month.
The firm is reportedly exploring a sale, a topic discussed by one client at an investment committee meeting today.