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The plan will issue a general investment consultant RFP due to an upcoming contract expiration and conduct an asset allocation study to consider eliminating its risk parity asset allocation.
The plan also disclosed private equity, real estate and strategic investments from the third quarter.
The plan created a 3% target to private equity at its board meeting this week.
The plan will begin with a mid-cap growth equity manager search in January.
The funds target investments in late- and mid-stage growth companies.
The firm announced the closing of Sumeru Equity Partners Fund IV at the hard cap with $1.3 billion in total capital commitments.
The plan, which has not had a cio in the past, is looking to fill the position.
The strategy will be new for the trust fund, which is looking to fill a $3.4 million mandate.
The plan has decided to stick with its incumbent to provide investment management services for its approximately $1 billion portfolio.