The retirement system also replaced two underperforming equity managers in the second quarter.
The retirement system will soon begin filling out its maiden 5% infrastructure target.
The deputy director will now oversee the fixed-income, active equity and private markets teams.
The plan’s current alternatives consultant was first hired in 2017.
The retirement system received proposals from five firms following an RFP issued in January.
The plan is also considering adding risk mitigating strategies.
The search comes after the plan received an education on below investment grade multi-asset credit managers this week.
The search is being conducted due to the closure of one of the retirement system’s investments.
The retirement system conducted a similar search in 2018 that resulted in a manager change.
The hire concludes an RFP process that began in January.