Maiden Russell 1000 Value Index Manager will handle $20 million on behalf of the plan.
Global value hire will replace the plan’s existing passive global core equity mandate with Northern Trust Asset Management.
The search is being conducted to comply with standard state procurement laws.
Plan also adopted a new asset allocation that includes a maiden target to private debt.
The plan hired a passive international equity manager in an effort to implement a hedging program and will see their first investment officer depart next week.
The search is for a manager to handle six index funds.
The searches are issued due to standard state procurement laws.
Plan made private equity and real estate commitments totaling approximately $250 million at this week’s meeting.
The manager will handle a nearly $5 billion Russell 3000 Index portfolio for the plan.
The plan will look to evaluate the marketplace for lower management fees, with an emphasis on Collective Investment Trust vehicles.