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The plan will allocate 10% of its portfolio to risk mitigating strategies as part of a new asset allocation.
The decision comes after the plan had initially decided to go ahead with a search for emerging managers-of-managers last month.
The plan rehired its incumbent following a similar search conducted in 2017.
The plan relaunched a search after initially hiring a firm last year.
The pension fund concluded a general investment consultant search by selecting its incumbent this week.
The fund hit its $2.3 billion hard cap in six months.
The pension plan has worked with incumbent Atéssa Benefits since 2015.
The firm has closed its seventh flagship real estate fund with $354 million in capital commitments.
Hedge funds overall may not have the panache today that they held in the early aughts but institutions continue to find these strategies to be beneficial in providing portfolios with the best risk-adjusted returns in today’s market and the future.
The plan has made several changes to its portfolio in recent months.