The city did not previously utilize a firm for the services.
Town is seeking investment advisory services for its police and fire pension and OPEB funds.
The plan approved three alternatives commitments at its board meeting last week.
The firm has appointed Kate Burke as its next ceo, effective later this summer.
The plan hired a new domestic small-cap equity manager last month, replacing a terminated incumbent manager.
The city is seeking the services for its approximately $400 million investment portfolio.
The city issued an RFP in July seeking a firm to provide record keeping services for its plans.
BC Partners Credit, the private credit arm of BC Partners, raised over $1.4 billion in investable capital for its third special opportunities fund.
The newly established role will further strengthen the equities platform, optimizing performance and fostering innovation across Principal’s global equity strategies.
The potential move comes as the strategy’s portfolio manager recently retired.