The new asset allocation also eliminated the plan’s hedge funds portfolio.
The pension fund hired two firms to replace a previously terminated underperforming manager.
The plan’s retirement administrator will also retire this year after 32 years.
The firm will manage separate mandates for the city’s pension plan and OPEB Trust.
The retirement system made five private markets commitments totaling $160 million last year.
The pension fund also trimmed an underperforming manager’s mandate by 30%.
The commitments include two new relationships for the plan.
The plan will also search for private debt and infrastructure managers later this year.
The plan will issue a private credit RFP in July that will be open to diversified, direct lending and senior secured strategies.
The town is searching for administrative, investment advisory and actuarial services for its plans.