The plan made the manager change due to performance issues with the incumbent.
The new consultant will advise the board on asset allocation and provide performance analysis.
The alternatives platform will acquire a minority stake in the private credit firm launched by former
Northern Trust Asset Management President Shundrawn Thomas.
The plan will see its overall private markets target increase to 40% from 33%.
The plan made the commitment at its board meeting this month.
The board has been preparing to conduct the searches as it works toward a new asset allocation approved in 2021.
The plan opted to replace its incumbent at a board meeting yesterday.
The plan has worked with its existing consultant since 2011.
The plan is looking for a firm to handle up to $20 million.
Warren DeKinder joins the private credit and secondaries firm’s Dallas office.