The will focus on pension plans and nonprofit clients, respectively.
Less than 1% of plans offer illiquid alternative investments.
Two managing directors will be promoted as successors.
The plan announced its next cio will be an investment officer currently with the plan.
The new investment officer, who replaces an outgoing officer, will begin next week.
The plan will interview three finalists in its search to replace Executive Director Angela Rodell, who was terminated in December.
The plan is losing a longtime member of its investment team, who will join a neighboring state pension system.
The firm’s current CEO is retiring on Oct. 10.
The fund will focus on lower middle market service industry companies.
They will be involved in all aspects of the investment process.