Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Firm’s strategy had underperformed the MSCI EAFE Index over the one- and three-year periods ending March 31.
Plan invested $230 million across two international growth mandates in the first quarter.
The search is for managers to handle $200 million.
Program is seeking up to two firms to handle four investment options.
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
The plan is looking to place nearly $770 million with two managers.
Plan selected two finalists in its emerging markets small-cap equity search and added a real assets commitment for pacing purposes today.
Plan will discuss potentially implementing a dedicated allocation to Pan-Asian assets over the next year.
Plans’ incumbent socially responsible manager Boston Trust Walden is invited to rebid.