The plan is looking to build out its 10% target to the asset class.
Plan funded a new international equity manager and added alternatives commitments in October.
A Mid-Atlantic plan disclosed $500 million in recent private markets commitments at this week’s board meeting.
The search is open to funds that invest in diverse-owned firms.
Action will see plan expand its emerging manager program target to $1 billion from $750 million.
The plan is searching for small-cap firms for a domestic equity portfolio that is entirely with large-cap managers.
A teachers pension fund in the South has earmarked $630 million to real assets and private equity.
A state pension fund in the Great Lakes region disclosed $280 million in third quarter fund commitments.
Southwestern plan added $165 million in private markets commitments in November.
Plan would launch search in 2021 and the incumbent will be welcome to rebid.