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His fellow co-cio will retire next year after being with the firm since 2005.
The city currently invests most of its funds with the state treasurer’s investment fund.
The current executive director is retiring after 34 years with the plan.
The hire is in line with Callan’s efforts to increase its alternatives research resources in recent years.
The plan is looking to create a broadly diversified private credit portfolio.
The firm’s newest hire joins after approximately 30 years at Aon Investments USA.
The plan made a private equity commitment and approved a hedge fund redemption at today’s board meeting.
The plan is seeking open-ended fund managers to handle $45 million.
Lorenzo Newsome Jr. has developed a lot of skills that he believes will help him excel in his first role on the allocator side of the table.
The plan also named finalists in its non-core real estate and private credit searches.