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The pension fund approved the search for a maiden private markets consultant at a board meeting earlier this month.
The foundation has promoted its managing director of investments to serve as cio and oversee its endowment as its previous investment head left to serve as cio at an investment firm.
The plan promoted from within for the roles overseeing the $41.2 billion fixed-income portfolio and $144.9 billion global equity portfolio.
The retirement system made four private equity commitments for pacing purposes at today’s board meeting.
The pension plan ended the employment agreement of its executive director, who had been on paid administrative leave since November.
The team added two new team members from Nuveen and a third from Lord Abbett & Co.
The firm’s new head of U.S. research will join next quarter.
The contract will run for three years with the option to extend for two one-year terms.
The company has selected a panel of firms to manage its investment grade fixed-income portfolios.