High-Yield
The retirement system will also launch a search for private credit managers next year.
The hire concludes an RFP process that began in May.
The plan is seeking separate account managers that can offer exposure to multiple credit asset classes.
The termination recommendation stems from fixed-income structural changes approved last summer that eliminated sub-asset class targets in core-plus and high-yield.
The search will be opened to high-yield corporate debt, leveraged loans, securitized credit and convertible bond strategies.
The search follows a new asset allocation that includes maiden targets to corporate credit and bank loans.
The retirement system also disclosed a high-yield bond manager hire to complete a search launched last year.
The RFPs are a result of a new asset allocation approved in May.
The authority also hired a total of six new managers within its global equity and fixed-income portfolios as part of an asset allocation policy approved in February.
The plan approved adding a dedicated high-yield component earlier this year.