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The new hire is being integrated into the firm’s collateralized loan obligation platform alongside Managing Director and Portfolio Manager William Lemberg, who will be retiring in the spring of 2025.
The plan began a search in April that excluded its two incumbent managers.
The commitments were made under the plan’s delegated authority.
She joins the firm from Macquarie Asset Management, where she headed their U.S. wealth private markets.
The firm will cease advisory operations at the end of this month.
The deferred compensation plan’s active global large-cap growth equity manager had been on watch since the third quarter due to underperformance.
The firm raised the assets following the final close of its latest private equity and continuation funds.
The plan is seeking a firm to advise the fund on an ongoing, as needed basis to assist the board in making prudent investment management decisions.
The commitments were made in closed session at this week’s board meeting.
The plan made three credit-focused commitments with existing manager relationships.