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The potential move comes as the strategy’s portfolio manager recently retired.
The retirement system approved the hire following a search report presentation from its consultant.
The foundation’s new co-chair will serve alongside Michael Arougheti.
The plan also terminated an emerging markets equity manager for performance reasons.
The domestic large-cap growth equity manager had been on watch due to underperformance.
The fund closed at €21.5 billion in total commitments, a 35% increase from its predecessor.
The new structure will result in manager terminations and searches.
The retirement system disclosed infrastructure and credit commitments totaling $300 million at today’s board meeting.
The plan approved the search at a board meeting earlier this week.
The plan is looking for non-emerging, emerging and emerging managers-of-managers.