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An RFP was issued in May and the district plans to invest $20 million and $200 million under the guidance of the selected firm.
The transaction is expected to close early next year.
The plan will seek a global equity manager to equitize upcoming proceeds.
Interested firms must be raising at least $300 million in commitments.
The plan will reduce its domestic large-cap growth exposure by eliminating an existing manager.
The deferred compensation plan is looking to create a bench of qualified investment managers.
The fund saw a decline of more than $500 million in assets since 2021.
Five total firms were interviewed at a board meeting yesterday.
The fund received a total of six bids in its private markets consultant search.
He will officially depart the plan later this year to “pursue an exciting opportunity.”