The plan is looking for a firm to handle $20 million.
Ranchland is an emerging real assets manager focusing on value-add operational improvements and active property management.
Aflac Global Investments has acquired a stake in San Francisco-based lower middle-market direct lender Tree Line Capital Partners.
The plan stayed in-house to replace a retiring Christopher Ailman, whose last day with the plan is June 30.
The investment firm returned client assets as of April 30.
The search for a manager to handle $30 million was approved at a board meeting last week.
The plan will halve its hedge fund target as it bolsters its U.S. fixed-income portfolio.
The plan will issue the RFP due to the contract expiration of the incumbent.
The plan selected the firm to handle roughly $9 million following finalist presentations at today’s board meeting.