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The pension board approved a private real estate commitment last month.
The plan committed to two managers following closed session discussions.
The acquisition increases Westwood’s total assets under management by 33% to $16.3 billion.
The plan’s investment consultant will continue to monitor the strategy’s short- and long-term performance.
The 529 plan hired a new executive director from a nearby university following a search from this summer as its previous head left to join a Western university as deputy cio.
The firm recently hired a head of private market client solutions to optimize the role of private market investments in client portfolio as well as a director in its member strategy group to manage and maintain relationships with current and prospective clients.
The Western-based firm closed its inaugural fund, which invests in early-stage climate tech companies, with approximately $90 million in total commitments, above its $50 million target.
The senior managing director joins the firm from Ares Management, where he served as a partner.
The plan committed $75 million to two existing private equity manager relationships.
The county hired a firm to actively trade its investment portfolio last month.