A California plan added real estate and private equity commitments at yesterday’s board meeting.
The plan made two commitments to close its allocation gap relative to the asset class target.
Plan added a $13 million private equity commitment as part of its annual pacing plan in the asset class.
The plan agreed to advance two emerging manager program RFPs and implement a new asset allocation yesterday.
The search will begin in the next few weeks for a firm to handle up to $15 million.
The new CIO will focus on ground-up development, value-add acquisitions and debt and equity investment.
The plan approved two private equity commitments at its May board meeting.
The plan is looking to invest in three North American buyout strategies.
The new asset allocation increases its equity target by 3%.
The plan made commitments to one new manager and existing managers.