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AEW Capital Management closed its latest real estate fund with $1.77 billion in total equity commitments.
The plan will not look to renew contracts with two incumbent large-cap growth equity managers.
The position was left vacant last month due to a promotion.
The real estate manager has also announced a partner promotion.
The city issued an RFP seeking a firm to manage 80% to 90% of its roughly $200 million investment portfolio.
The pension hired its incumbent consultant following a search conducted in 2025.
The search was first discussed at the plan’s May board meeting.
The plan is looking to invest $200 million with multiple investment managers.
The retirement system moved away from its active domestic large-cap growth equity manager.
The retirement system added direct lending and core real estate commitments at today’s board meeting.