The new hire will lead ORIX Corporation USA’s capital formation strategy.
The deferred compensation plan also replaced its multi-strategy real estate manager last week.
The firm’s sixth life sciences fund has closed at its $6.3 billion hard cap.
The plan currently works with general investment consultant Gallagher Fiduciary Advisors.
The retirement plan eliminated its floating rate bonds target allocation as part of a newly adopted policy last month.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The transaction is expected to close in the second quarter.
The deferred compensation plan will also consider replacing its multi-strategy real estate manager this week.
The retirement system also approved a 2026 private markets pacing plan in January.
The pension plan added three new managers to its equity portfolio last week.