Real Assets
The plan tapped an active manager after voting to move to an all-active approach for the fixed-income portfolio to achieve better long-term return prospects.
The plan will also search for private debt and infrastructure managers later this year.
The terminations include three underperforming managers.
The commitments target energy and digital infrastructure.
The recommended hire of an additional active core-plus manager comes after the decision to implement an all-active approach.
The retirement system is also slated to vote on its general investment consultant search next month.
The plan interviewed three firms for a $7.5 million mandate.
The search is for an open-end private infrastructure strategy.
The retirement fund disclosed $85 million in recent commitments across private equity and real assets.
The plan is seeking active and passive funds to handle $1.35 billion.
