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The plan made private equity commitments totaling $60 million this week.
The president will join the firm next month and be responsible for further strengthening senior client relationships, attracting talent and expanding the firm’s reach globally.
The incumbent submitted the sole proposal in response to the authority’s RFQ.
The plan swapped domestic small-cap core equity managers last month following a search by its investment consultant last year.
The plan is seeking a firm to handle a $15 million mandate and provide uncorrelated returns to both equity and fixed-income markets.
The plan had more than $430 million in the program at the end of 2022.
The plan made the commitment alongside approving a 3% target to the asset class at today’s board meeting.
The plan will look for a replacement global growth equity manager after terminating its incumbent this week.
The search comes as the plan’s previous executive director has since taken a position at a law firm.
The plan fully redeemed a market-neutral investment and will consider an international small-cap value equity manager hire.