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The foundation is looking to build out its private investments over the coming years after revising its target asset allocation and significantly increasing allocations to several alternative asset classes in fiscal year 2022.
The search follows the resignation of the executive director earlier this week.
The plan hired a new investment advisor this month to replace its incumbent provider following a search from last year due to the incumbent’s impending contract expiration.
The plan will seek to commit up $300 million across multiple private credit strategies as part of an RFP scheduled to be issued on Monday.
The role was recently vacated by Mike DiRe following his promotion to senior investment director of private markets.
The plan is seeking to fill a position left vacant by Mike Barnhill, who joined the $76.7 billion Alaska Permanent Fund Corporation as coo last month.
The plan’s contract with incumbent Nationwide Retirement Solutions expires on Dec. 31.
A total of up to $1.5 billion is expected to be awarded in the search.
The search follows the district recently selling all $350 million of a bond approved by voters in November 2021.
UTIMCO President and CEO William ‘Britt’ Harris will step down from the role at the end of the second quarter after six years of service and CIO Rich Hall will take over the role.