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The city is searching for investment advisory and portfolio management services for its $38 million portfolio.
The city issued an RFP last year due to the contract expiration of its incumbent advisor.
The town opted to maintain its current strategy of investing in the local government pool over hiring an external manager.
The retirement system’s cio disclosed recent staff-delegated alternatives commitments totaling $110 million.
The new hire will oversee the firm’s investment activities alongside Co-CIO and Vice Chair Pablo Calderini.
The institution has launched a search for a discretionary investment manager to handle its pooled investment program following a similar search from 2019.
The alternative investment firm raised approximately $400 million for private credit and equity tranches of lower middle market business across healthcare, business services and education sectors.
The plan awarded a contract to its incumbent consultant last week.
The firm is predicting moderate global equity performance, better high-yield bond returns and strength in private credit over the coming decade.
The plan is searching for an outsourced cio in an effort to generate higher returns.