The European core-plus real estate manager will help move the plan closer to its 15% real estate target.
Plan added a $3 million real estate commitment to stay aligned with its investment policy statement.
The plan will consider core-plus real estate strategies after delaying a commitment over concerns with the fund’s allocation to the single-family rental home sector.
The three firms will evenly split a $255 million mandate.
The plan’s real estate committee made two commitments with existing managers and one commitment with a new manager last week.
The plan disclosed ten commitments totaling almost $1 billion at its board meeting last week.
The plan is nearing the conclusion of its domestic small-cap equity and fixed-income manager searches.
A Midwestern pension plan approved a new fixed-income portfolio structure today.
A Southern state plan hired a core-plus real estate manager as part of a search launched in the summer.
She will oversee the core-plus logistics strategy.