Absolute Return
The pension plan expects to issue an RFP to potentially replace a terminated core real estate manager next year.
The plan also made several private markets commitments totaling more than $500 million.
The plan will look to hire five firms after launching a search in January.
The plan also disclosed two new commitments.
The plan will also receive a private credit portfolio review at today’s board meeting.
The pension plan expects to commence the contract on Nov. 19.
The termination stems from lower than expected real returns and changes to the firm’s team.
The pension plan is seeking several managers to handle a yet-to-be-determined mandate.
The redemption is the fourth one this year for the plan.
The pension plan will liquidate its $227.5 million timber mandate and $106.4 million farmland mandate due to underperformance.