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The new hires will focus on business development for institutional and high-net-worth funds.
The fund approved an up to $300 million commitment with a minimum investment of $250 million to an existing real estate manager.
The ceo will stay on through April as an advisor to ensure a smooth transition.
The 529 program named a new director to manage its assets and operations of its plans after its director retired on July 1.
He will lead the firm’s distribution strategy across Europe and Asia.
The plan has now committed to four funds with the manager.
Deputy director of operations left on Sept. 16 after 24 years with the plan.
He will oversee multifamily investment activity in the Western U.S. region.
The plan, which launched an investment advisor search earlier this year, extended services with its incumbent on a month-to-month basis.