The plan is slated to select a shortlist of managers at its investment committee meeting next week.
The plan was slated to hire a consultant at its board meeting last week after launching a search in September.
The plan interviewed two firms earlier this month as it looks to replace Western Asset Management.
The plan’s investment consultant will present potential alternatives at its next investment committee meeting.
The responsibility for investing the city’s cash and trust funds previously resided with the finance manager and treasurer.
The plan rehired its incumbent to provide administrative, investment and communication advisory services.
Leech allegedly engaged in cherry-picking and assigned over $600 million of gains to favored clients and over $600 million of losses to disfavored clients over several years.
He left the firm last week to pursue a new opportunity with an investment management firm.
He will be responsible for evaluating new transactions, due diligence, underwriting and collaborating with portfolio companies.
The fund was created to pursue control investments in micro-cap distributed healthcare businesses.