The plan’s initial priority will be to conduct a global core/value equity strategy search to compare with an existing investment manager.
The fund closes above its $1.25 billion target at $1.44 billion.
The West Coast-based authority issued an RFP for the services in the first quarter.
The plan expects to approve three recommended finalists for future interviews at this week’s board meeting.
The venture capital firm raised capital across six vehicles, underscoring the firm’s bespoke fund architecture and deep AI investment track record.
The global asset manager has named Jeff Ringdahl as president.
The plan has lined up 2026 searches for real assets, real estate and private credit managers.
The state launched a similar search for services late last year.
The plan also disclosed $30 million in second quarter alternatives commitments at this week’s board meeting.
The plan also approved a recommendation to exit its midstream energy allocation.