Plan will review a maiden allocation later this month after hearing an education on the asset class last week.
The plan will replace its non-core infrastructure target with a core allocation.
The plan is looking for an index focused on factors such as value, momentum, quality and low volatility to serve as a reference benchmark for an internally-managed portfolio.
The plan has $39 million remaining to be committed to three private equity funds in 2023.
The search will begin in the next three to six months due to the upcoming contract expiration of the incumbent.
The RFP is being issued because a number of infrastructure managers are coming to market this year.
Northleaf Secondary Partners III is more than 60% larger than the firm’s predecessor fund.
The plan made commitments totaling $500 million to three funds and retained its incumbent to advise on its defined contribution plans last week.
The plan will invest $100 million into a private equity fund-of-one over the next five years.
The plan could look to add private equity as current valuations begin to decline.