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The retirement system made $275 million in new alternatives commitments in recent months.
The selection firm will provide services such as administration, record keeping and investments.
The plan’s current consultant was hired in 2016 following a similar search.
The state retirement system added a private equity-focused portfolio manager to its team this month.
The plan will further consider nine managers in a search that was launched in May.
The university expects its discretionary provider to conduct a review of its strategic asset allocation during the third quarter and a separate review of its global equity portfolio during the fourth quarter.
Outsourced cio usage is expected to “increase considerably’ over the next two years and nonprofit institutions are expected to adopt the discretionary model at the fastest rates, according to new research.
The college savings program added active bond strategies to replace two passive strategies to provide greater flexibility in country and security selection.
The firm has named its next investment head as its current cio is set to retire at the end of the year after more than 16 years of service.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.