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The pension system hired a new manager after closed session deliberations at a meeting this week.
The firm has added six members to its leadership team as part of its strategic expansion.
The principal investment officer had been with the retirement association for more than 15 years.
The retirement system approved up to $320 million across two private markets commitments.
The plan also disclosed $30 million in second quarter alternatives commitments at this week’s board meeting.
First Eagle will acquire the boutique investment manager in an all-cash transaction valued at approximately $473 million.
The retirement system will consider replacing its active domestic mid-cap growth equity manager.
Data from the annual Higher Education Price Index® (HEPI) show that inflation for U.S. colleges and universities rose 3.6 percent in fiscal year 2025, surpassing the 3.4 percent inflation reported in fiscal year 2024.
Outsourced cio providers can best meet endowments and foundations’ growing demand for exposure to the best private market asset managers through dedicated research teams and tailored service models.
The fund is working with its general investment consultant as well as ratings agencies to underwrite the final strategic move in its asset allocation as it continues to seek and develop strategic partnerships with best-in-class asset managers.