The retirement system replaced one of its domestic large-cap value equity managers due to concerns about succession planning.
The minority investment is being made via Wafra Inc.’s Strategic Partnerships platform.
The town received eight submissions in response to an RFQ issued in August.
The new ceo has been with the firm since 2011.
The retirement system first approved a draft general investment consultant RFP at its investment committee meeting last week.
The plan invested $185 million in a fixed-income strategy last month.
The new hire will lead the firm’s defined contribution distribution team.
The role is newly created.
Mark Kiesel has served as the firm’s cio of global credit since 2014.
The firm’s current global cio will retire on Jan. 31.