Alternatives
The retirement system also disclosed three new alternatives commitments at today’s meeting.
Managers are launching new open-end real assets funds as competition is increasing in most strategy types and firms that offer more investor-friendly fees and terms can be more competitive in searches, according to a new study.
The trust fund added core-plus real estate fund this month as it looks to increase its exposure to manufactured housing and residential real estate.
The fund expects to receive a recommendation to commit $120 million to a new infrastructure manager at this week’s board meeting as it’s underweight its target to the asset class.
The plan approved two commitments at a board meeting this week.
The plan last conducted a search nearly a decade ago.
The retirement system expects to launch an emerging markets small-cap search before the end of the year and a broad emerging markets search next year.
The plan will commit to a total of 15 private equity managers next year.
The plan’s consultant will also kick off an asset/liability modeling study this month.
The plan also made several private markets commitments totaling more than $500 million.