The retirement system approved up to $320 million across two private markets commitments.
First Eagle will acquire the boutique investment manager in an all-cash transaction valued at approximately $473 million.
The board launched a search earlier this summer due to its incumbent manager’s expiring contract.
The pension plan disclosed more than $500 million in private markets commitments made in recent months.
The city has rehired the record keeper for its $877 million Defined Contribution and Deferred Compensation Plans.
Alex Kozhemiakin has joined Lazard Asset Management as managing director and co-head of emerging market debt.
The manager had been on watch since last December due to underperformance.
The pension fund tapped Uri Monson from the state’s budget office to take over the executive director role.
A search was launched in October due to the impending contract expiration of the city’s incumbent.
The county has issued an RFP seeking fiduciary consulting services for its $31.6 million in deferred compensation assets.