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The plan will consider issuing a general investment consultant RFP due to an upcoming contract expiration.
The new state investment officer joins from an Illinois-based defined benefit plan.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The more than $5 billion plan is looking for a general investment consultant to review investment performance and the investment lineup as well as assist with manager searches and selection.
The investment advisor will serve for an initial three-year term with the option to renew for two additional one-year terms.
The plan will withdraw prior to the fund’s closure in December.
The new associate will help evaluate, analyze and monitor investments made by the mid-Atlantic-based private equity firm.
The new investment consultant was hired last week following a search that was relaunched in May.
Elizabeth Goldsberry is responsible for financial matters, reporting, risk management and internal controls for the Kresge Foundation’s approximately $3.9 billion investment portfolio.