The plan will seed a new strategy headed by a former senior managing director.
The pension fund may receive a recommendation on more specialized managers in the asset class later this summer.
The search follows underperformance within the asset class.
The plan interviewed four finalists in the search last month.
The city is seeking a provider for its four defined contribution plans.
The plan approved two private credit commitments for pacing purposes at its board meeting today.
The pension fund hired two firms to split a 6% allocation.
The changes aim to improve portfolio quality for the retirement system’s domestic equity sleeve with several terminations and hires.
The plan will interview two firms in its general investment consultant search.
The plan also added a new 6% target to private credit.