Callodine Group has entered into a definitive agreement to acquire a majority stake in Corrum Capital Management.
City rehired the firm providing record keeping and administration services for its 457 and 401a plans this week.
The plan currently utilizes three providers and is looking to hire a single provider.
The firm raised $5.5 billion for the oversubscribed flagship fund.
The retirement system’s board also approved up to $250 million across private markets commitments at today’s meeting.
The incumbent firm has served as advisor for the plan for 25 years.
Blue Sage Capital closed its oversubscribed credit fund at $287 million.
The selected firm will provide non-discretionary management of the city’s safekeeping account.
The senior investment professional will serve in a generalist position and “play an integral role” on the plan’s investment team.
DigitalBridge Group has hired Wendy Pryce as a managing director.