District of Columbia Retirement Board, Washington, is looking for a custodial bank.
Current custodian State Street Bank is invited to rebid, said spokeswoman Deborah Reaves, who did not provide further details.
The $5.8 billion public pension fund's search will be handled by investment consultant Meketa Investment Group.
Also, the pension fund committed $20 million to Odyssey Investment Partners Fund V, and $25 million to Onex Partners IV.
The Odyssey offering is a middle-market buyout fund, and the Onex Corp. private equity fund invests in large-scale, value-oriented North American businesses.
At the board of trustees meeting Jan. 23, board members agreed to add $25 million to the real assets and private equity forward calendar. The calendar permits staff to conduct due diligence before making final recommendations to the board, Ms. Reaves said.