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TJC has closed its second continuation fund at $2.1 billion.
The plan’s consulting contracts are slated to expire in the first quarter of 2025.
The plan made the decision in closed session of its August board meeting.
The retirement system is seeking an international growth equity manager to handle $200 million.
The plan’s current manager has been under scrutiny due to organizational and personnel changes.
He leaves a role he assumed in 2022 after previously retiring from the California Public Employees’ Retirement System in 2020.
The firm’s newest partners join from New Mountain Capital and Marlin Equity Partners.
The plan last conducted an asset/liability study 18 years ago.
The retirement system placed a domestic small-cap value equity manager on watch last month due to lagging performance.
His fellow co-cio will retire next year after being with the firm since 2005.