The search is being conducted as part of a new fixed-income portfolio structure.
The general investment consultant will serve for an initial one-year term with the option to renew for four additional one-year terms.
The retirement fund also disclosed commitments totaling $1.1 billion in September.
The retirement system will also see its executive director retire on June 30.
The selected firm will serve for an initial two-year term beginning March 1.
The retirement system terminated a domestic large-cap core equity manager earlier this month.
The appointment is part of a realignment of Prudential Financial’s senior business leadership structure.
The retirement system also hired an international all-cap growth equity manager and four infrastructure managers this week.
The new director of fixed-income joined the plan from the New York State Teachers’ Retirement System.