The firm’s hire will be recommended to the full board at a meeting later this month.
Alternative asset manager ITE Management has received a strategic minority investment from funds managed by Blackstone Credit & Insurance.
The selected firm will manage a $60 million core long-term investment portfolio.
An RFP was issued last February for a total allocation between $90 million and $180 million.
The plan’s new passive global inflation-linked fixed-income manager replaces an incumbent firm.
The plan will interview four emerging markets equity finalists next week.
The plan rehired its general investment consultant and hired a new firm for a separate specialty consultant services mandate.
Rodney Zemmel has joined Blackstone as global head of portfolio operations.
Andrew Hoffmann has joined the retirement systems as an investment director.
The plan approved private equity and real estate commitments at its board meeting today.