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The fund made an undisclosed commitment to an impact fund focused on Black- or Latinx-owned entrepreneurs and businesses in the St. Louis-area.
The foundation is seeking investment management services for its portfolio and the selected firm will be tasked with investing funds and other negotiable assets to produce maximum total return.
The health system hired its first investment head to oversee approximately $9 billion in assets across its operating, defined benefit pension and health insurance pools.
The firm added a managing director in Chicago for its real estate team.
The commitments include two new relationships for the council.
Firm closed the inaugural fund with over $1.2 billion in capital commitments.
The new manager will be partially funded by reducing the portfolio of the plan’s incumbent large-cap core manager.
The new manager began last month and will officially assume the role at the end of March.
The plan’s former executive director has retired.
The plan’s incumbent manager is currently on watch for performance reasons.