The new hire joins the firm from Sixth Street.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
The fund close represents Heitman’s “largest closed-end fundraise to date.”
The retirement association was notified of private equity and real assets commitments last week.
The board hired domestic and international all-cap equity managers last quarter.
The fund exceeded its hard cap of $1 billion.
The retirement system hired two international equity managers to replace an incumbent that had been on watch since October.
The city previously rehired Meeder Public Funds to provide the services in 2022.
The retirement fund received three proposals in response to an RFP issued in May 2024.
The firm has closed its “largest ever fund.”