The plan also held finalist interviews with three large-cap value equity managers last month.
The plan conducted a liquid credit manager search after approving a new asset allocation policy earlier this year.
The two firms will have more than $1.8 trillion in assets under advisement.
The plan conducted a liquid credit manager search after approving a new asset allocation policy earlier this year.
The two manager terminations stem from underperformance, asset outflows and high fees.
The current director is leaving next month for a neighboring plan.
The search is part of a 2024 pacing commitment plan.
The plan approved the search last month to comply with state procurement requirements.
The current provider will see its contract expire next year.
The plan issued an RFP in December after its previous outsourced cio was acquired.