They join the private investment firm from BlackRock and Warburg Pincus.
The plan will invest in a newly formed local and minority-owned asset manager.
The plan hopes to use proceeds to invest in other opportunities.
The firm also announced four promotions.
The plan has launched a general investment consultant search previously delayed due to COVID.
The plan recently made a venture capital and a value-add real estate commitment.
Plans approved alternatives commitments totaling $23 million this week.
The new hires will help expand Astara’s portfolio, the firm said.
The plan committed a total of $50 million to two funds for pacing purposes.
The plan disclosed several private equity commitments and one to private debt at a board meeting today.