The plan approved a new 3% target to infrastructure following an education from its general investment consultant.
The plan will review allocation options in June after receiving educations at its board meeting yesterday.
The plan will look to identify potential diversification opportunities outside core real estate to increase its expected return.
Plan’s first non-core real estate commitment came at a special meeting on Monday.
The consultant will advise the fund and monitor current providers MissionSquare Retirement and Nationwide Retirement Services.
The plan has issued its RFP for minority-, women- and diverse-owned private equity managers to handle up to $50 million.
The plan committed $50 million to a fund focusing on U.S. industrial warehouse opportunities.
The search comes less than a year after the fund hired its current real estate consultant.
The plan committed a total of $25 million across four funds at its March board meeting.
The plan will receive a search report from its general investment consultant next month after opting to terminate its existing manager, which had been on watch for performance since 2019.