The plan approved a 3% allocation to Acadian Asset Management at its board meeting on Friday.
The new firm replaces Thompson, Siegel & Walmsley, which had been monitored for performance reasons since 2019.
What began as an after-work social group for Black professionals in the hedge fund space to network, find mentors and identify career opportunities has since evolved into a network that aims to help shape a shifting asset management landscape that has placed greater importance on diversity, equity and inclusion.
The plan will discuss adding a 3% private debt target at its board meeting on Friday.
The plan committed $100 million each to three private equity firms at its May board meeting.
The plan fills its open director of liquid strategies role.
The plan made a $20 million commitment at its special meeting yesterday and anticipates making annual commitments to additional funds moving forward.
The plan will pick up discussions on private credit next month after making maiden private equity commitments in March.
The plan committed to a buyout fund and an opportunistic real estate fund at its board meeting yesterday.
The plan hired a domestic large-cap value equity manager to replace an all-cap value manager at its May 17 board meeting.