Alternatives
The decision was made after the firm recently proposed an incentive fee floor.
The plan will hold a second round of finalist interviews in its consultant search next month and committed to an existing private equity manager in February.
The plan made a selection following finalist presentations held at its February board meeting.
The plan made a pair of private credit commitments and one private equity commitment last month.
The selection will conclude a core-plus fixed-income search for a replacement manager.
The plan terminated one of its risk premia managers and used the assets for general rebalancing.
The sustainability-focused firm has launched global and European infrastructure credit platforms targeting global investments in energy, transportation, social, digital and other sustainable infrastructure.
The fund approved a new asset allocation for its portfolio as well as a private equity commitment to an existing manager relationship at its special board meeting last month.
The plan hired three managers that will evenly split $100 million.
The plan added $500 million across three new alternatives commitments in the fourth quarter.