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The plan selected a fund from a search report that included both secondaries and fund-of-funds options.
The retirement plan’s current consultant agreement has been in place since 2017.
Fund IV closes with $865 million in commitments, the largest in the firm’s history.
The pension system added $340 million in private markets commitments in the second quarter.
The acquisition agreement will generate a combined diversified global asset manager overseeing approximately $571 billion in assets.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
The foundation made a $12 million donation to the United Negro College Fund to provide permanent endowment capital to 12 selected member schools.
The university approved adding new private equity managers as well as re-upping a commitment with an existing venture capital manager within its endowment.
The principal of strategic investments will evaluate prospective venture investments or partnerships with emerging technology firms, provide investment analysis and help with structuring deals.
The firm is launching a venture capital fund that will invest in early-stage companies using climate technology and artificial intelligence to improve real assets.