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The firm recently added a managing director to its investment team.
The plan is looking to create two pools of investment consultants.
The plan will consider consolidating its consulting services with one firm at a meeting this week.
The plan was notified of a manager termination as well as two redemptions at its Sept. 11 board of investments meeting.
Fund III closes with $230 million, exceeding its $200 million Fund II.
The search is open to value-add real estate managers.
The retirement systems also eliminated global low volatility and TIPS allocations earlier this year.
Shelly Heier, president of investment consultant Verus, will depart the firm effective Sept. 30.
The plan will consider a replacement search for its $331 million core-plus fixed-income mandate with the firm.
Mandates include global, U.S., non-U.S., emerging markets, customized funds, factor or risk-based indices and underlying components of target date funds.