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The retirement system also replaced two underperforming equity managers in the second quarter.
The current environment is seeing separately managed account redemption rates that have surpassed projections, though differentiated vehicles remain slated to succeed.
The plan is expected to issue the RFP ahead of its incumbent’s expiring contract.
The new hire will lead efforts to expand the firm’s presence across the wirehouse, independent broker-dealer and registered investment advisor channels.
The pension plan was notified of two commitments totaling roughly $700 million this week.
The plan terminated its incumbent direct lending manager in November.
The acquisition will further expand Creative Planning’s presence in the wealth and retirement space.
Callodine Group has entered into a definitive agreement to acquire a majority stake in Corrum Capital Management.
City rehired the firm providing record keeping and administration services for its 457 and 401a plans this week.
The retirement system will soon begin filling out its maiden 5% infrastructure target.