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The plan replaced its domestic core-plus fixed-income manager, which had been on watch for underperformance, in the fourth quarter.
Empower Retirement currently serves as the plan’s record keeper.
The fund surpassed its $1 billion initial target.
An RFP was issued last February for a total allocation between $90 million and $180 million.
The retirement system finalized direct lending and private equity buyout commitments last week.
The deferred compensation plan last conducted a search for the services in 2018.
Four total firms were considered in the investment consultant search.
The firm will provide pension administration and investment management services for the authority’s $5.2 million Money Purchase Pension Plan.
Private equity funds managed by Genstar Capital have agreed to make a majority investment in independent, privately owned firm First Eagle Investments.
The plan interviewed two finalists last month for a $46 million mandate.