The plan is looking for a farmland manager to handle $35 million.
The plan made a $25 million re-up with an existing fund at its investment committee meeting this week while also opting to rescind a private debt commitment due to delays in deploying capital.
The plan will begin its search for a cio after the general manager hire is confirmed by the city.
The plan currently has $64 million invested in stable value within its participant-directed plans.
The plan will look to add private credit, re-establish its private equity portfolio, add complementary real estate strategies and evaluate its domestic equity portfolio this year.
The new targets include the elimination of an emerging market debt allocation.
The new hire will focus on capital raising and client and consultant relations efforts in the Western region.
Spiros “Sig” Segalas co-founded the firm in 1969. He was 89 years old.
The city hired two firms to manage a portfolio made up of cash, enhanced cash and fixed-income in July.
The plan also approved two real assets commitments along with a 2023 pacing plan at last week’s meeting.