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The pension fund approved the search at last week’s board meeting.
The retirement system also disclosed several private markets commitments.
It’s the last resort for institutions on the brink: tapping restricted funds from donors to keep the lights on. ‘The money they donated is not being used for what they gave it for.’
The third fund was closed through a managed transaction.
The authority recently completed the first phase of a project and needs to invest and manage approximately $35 million in funding.
The strategy is KKR’s largest infrastructure fund raised to date.
The deferred compensation plan terminated an underperforming domestic large-cap value equity manager in the second quarter.
The plan also approved a maiden infrastructure manager hire at today’s board meeting.
The plan named its next executive director from within its executive staff.
The plan will interview five firms in its middle market buyout search.