The plan adopted a new asset allocation mix at its board meeting yesterday.
The search is required by standard state procurement laws.
The position will assist with the implementation and monitoring of internal and external investment strategies.
The plan last conducted a search nearly a decade ago.
The plan’s current manager was first hired in 2017.
The plan will commit to a total of 15 private equity managers next year.
The plan’s consultant will also kick off an asset/liability modeling study this month.
The plan’s current provider handles $174.5 million of its assets.
The plan is looking to invest up to $450 million with qualified managers.
The plan also made several private markets commitments totaling more than $500 million.