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The program, which will officially launch in 2027, has begun a search for an investment consultant.
The current provider will see its contract expire next year.
The authority rehired the incumbent following searches in 2021 and 2015.
The retirement system bolstered its private equity team with a senior investment analyst.
The firm’s third dislocation fund surpassed its initial hard cap of $4.25 billion.
Co-Founder and Managing Partner Peter Berger has been appointed chair of the firm.
The plan terminated a domestic large-cap growth equity manager last month.
The manager will handle the retirement plan’s entire balanced portfolio.
The plan approved two commitments for pacing purposes.
The pension system made its third commitment to private credit this year at today’s board meeting.