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The termination stems from an upcoming co-portfolio manager departure.
The retirement fund anticipates final selection and approval in the third quarter.
The city is seeking the services for its $107 million in operating funds.
The plan approved the RFPs last week for best practices and due to the evolution of its portfolio through the addition of private markets.
The plan added a senior investment officer last month from another pension fund within the state.
The plan has issued an RFI for active quantitative investment management services.
The retirement fund added $249 million in new commitment at last week’s board meeting.
The fundraise exceeded the firm’s $4.25 billion target.
Victory Capital has submitted a bid to acquire Janus Henderson Group that is of “meaningfully higher value” than the firm’s pending deal with Trian Fund Management and General Catalyst Group Management.
The plan also hired two global equity managers at a meeting this week.