Hamilton Lane predicts that evergreen funds will grow faster than the overall rate of public markets over the next five years.
The retirement system hired five managers to each handle between $50 million and $75 million yesterday.
The position will drive environmental sustainability, climate risk management and responsible investment across its global investment strategies.
The plan hired two firms after interviewing three finalists last month.
The plan also adopted a new strategic asset allocation at its board meeting this week.
The pension plan made three commitments totaling $187.5 million last week.
The retirement system also changed firms for private infrastructure and private real estate consulting services in awarding contracts that also included hedge fund, private credit and private equity.
The plan’s private markets portfolio accounts for more than half of its total assets.
The retirement system agreed to hire a new core fixed-income manager at today’s meeting.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.