Private Equity
The plan has begun its search for a private equity consultant.
He previously served as a managing director at Marathon Asset Management.
Less than 1% of plans offer illiquid alternative investments.
Two managing directors will be promoted as successors.
The fund will focus on lower middle market service industry companies.
They will be involved in all aspects of the investment process.
The fund is looking to build out its alternatives allocations to align its portfolio with a new strategic asset allocation approved in June.
The plan added two private equity fund-of-funds and real estate commitments totaling $35 million.
The plan will seek a real estate manager to handle $30 million to $60 million and recently hired a hedge fund-of-funds manager as part of new absolute return portfolio structure.