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The fund revised its target asset allocation at its board meeting last week, increasing its exposure to fixed-income and private debt at the expense of real estate and global tactical asset allocation.
The foundation has hired a new cfo to oversee its finances and help manage its investments following a search from earlier this year.
The fund is expected to be at or near its €7 ($7.6) billion hard cap by the end of the year.
The internal appointment took over the role last month.
The plan ended a 30-year relationship with a core-plus bond manager after changes from recent meetings reported out of closed session.
She is rejoining the firm after previously being a part of the investment banking division earlier in her career.
The plan made three follow-on commitments at this week’s board meeting.
The new hire most recently served as managing director of institutional consulting at First Republic Investment Management.
The search is being conducted to comply with state regulations.
Rupal Bhansali is leaving Ariel Investments after 12 years to start her own firm.