Plan also adopted a new asset allocation that includes a maiden target to private debt.
The three will source, research and analyze existing and prospective investments.
Plan’s investment committee will review a recommendation to rehire the incumbent consultant.
The plan will review allocation options in June after receiving educations at its board meeting yesterday.
Plan is surveying the market for private credit and credit-related consulting services due to the evolution of its non-core fixed-income portfolio.
The plan disclosed new private equity, credit, portable alpha and real estate commitments at a meeting today.
Credit and venture capital commitments were made with three existing managers yesterday.
Plan will seek one core firm and one core-plus bond manager to split a proposed long-term target of 24% to the overall asset class.
Plan is searching for direct lending strategies to handle $20 million.
Structured credit has begun to garner headlines for the protection it can provide investors against rising rates, however, the accompanying nuances require significant expertise among both managers and allocators, industry experts say.