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.
The search is for active large-cap, small- to mid-cap and small-cap equity managers.
Yue Bonnet will lead the firm’s investment activities.