The plan also made $440 million in real assets and private equity commitments at today’s meeting.
The plan is conducting the search as part of a review of all major contracts.
The new hire will look to develop the firm’s North America business development strategy in the institutional investor channel.
The plan selected the managers at a meeting today following RFPs issued in April.
The more than $5 billion plan is looking for a general investment consultant to review investment performance and the investment lineup as well as assist with manager searches and selection.
The plan is looking to replace Nicole Musicco, who departed at the end of September.
The plan approved retaining up to $10 billion in liquid markets exposure through the program at its investment committee meeting yesterday.
The new consultant was hired at a board meeting today following an invitation-only search initiated earlier this year.
The two finalists were selected yesterday and will interview with the plan’s board in November.