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Firm closed the fund with more than $1.3 billion in total commitments.
The terminations were approved amid the plan’s ongoing international equity manager search.
The managers will complement existing core-plus manager TCW.
The plan was unable to invest in a previously selected manager.
The two incumbents were the only firms that submitted proposals.
The plan is looking to make a maiden private debt commitment of up to $50 million.
The firm appointed Molly Giffen to the role as she rejoins the firm.
The plan authorized a search to replace a terminated domestic large-cap growth equity manager and will issue a private equity consultant RFQ soon.
The plan completed a domestic small- to mid-cap value equity manager search launched in the fourth quarter.
Institutions are gravitating toward private markets following rising inflation and a volatile stock market in 2022 and the nonprofit segment anticipates increasing their usage of hedge funds, according to a new report.