The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
The $30 million transaction is expected to close in the third quarter.
The city hired two firms to replace a previously terminated core fixed-income manager.
The plan hired a new emerging market debt blended currency manager at the meeting, which also included discussions around including diverse asset managers in future searches.
No bond or currency managers expect inflation to fall below the Federal Reserve’s target in the next 12 months.
The plan disclosed the conclusion of a domestic core fixed-income manager search in October in its July 8 meeting agenda.
The plan is seeking complementary core and core-plus fixed-income managers to split its bond portfolio.
He manages various global bond investment strategies and mandates for institutional clients.
Her responsibilities will be assumed by co-managers.
Plan will issue an RFP seeking one core and one core-plus fixed-income manager to each handle 12% allocations on Tuesday.