The plan relaunched a search after initially hiring a firm last year.
The retirement system retained its equity manager and let go of its incumbent fixed-income manager.
The commission is searching for a discretionary manager for its non-pension assets.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The retirement system will also launch a search for private credit managers next year.
The plan will replace its core-plus and global opportunistic bond managers.
The plan instructed its consultant to prepare an analysis of alternative firms to its incumbent core-plus bond manager.
The plan’s investment committee is recommending hiring two firms.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The dismissals were due to increased operating costs and management fees.