The plan is looking to fill a 5% target to liquid real assets within its OPEB portfolio approved over the summer.
The search follows a recent portfolio manager departure from its incumbent manager.
The selected firm will manage a Russell 1000 Growth Index mandate at least initially.
The plan first hired the domestic large-cap growth equity manager in 2012.
The plan has begun its search seeking a Standard & Poor’s 500 Index manager.
The plan will issue RFPs within the next two months due to standard state procurement laws.
The plan is looking to invest up to $70 million total to passive equity managers.
Draft RFPs will be reviewed next month for scheduled publication in January.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
Plan will look to increase a direct lending fund-of-one commitment to $500 million from $300 million this week.