The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan last committed to Vision Ridge Partners in 2021.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
The plan committed $25 million to a buyout strategy last month.
The new manager will complement the plan’s existing core real estate mandate with Invesco.
The plan’s board committed $50 million total to a new private equity manager and was notified of a $30 million co-investment yesterday.
The plan first decided to switch to an outsourced cio model in 2020.
The plan added three private credit commitments to move closer to its 6% target allocation.
The plans concluded a search launched last year in anticipation of four contract expirations.
The plan last relaunched the search in October after not receiving any responses to the initial search.