The plan also approved two real assets commitments along with a 2023 pacing plan at last week’s meeting.
The plan will fund the allocation from its intermediate bond manager.
The fund is dedicated to financing growth-stage, small and medium-sized businesses in developing economies.
The new hire has previous experience in manager research at Marco Consulting Group.
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The new hire will focus on medium to large institutional investors and their investment consultants across the U.S.
The deal will see approximately $8 billion in assets move to the Wintrust subsidiary.
The firm brought on a former member of investment consulting firm NEPC’s healthcare practice.
The search aims to expand the geographic focus of the plan’s existing factor portfolio and provide alternatives to building its existing four underlying factor exposures.
The principal had been responsible for leading the firm’s manager research efforts for multi-strategy hedge funds, CTAs and hedge funds-of-funds.