Real Assets
The retirement system closed on more than $500 million in commitments last month.
The plan is replacing the consultant following a review at last week’s board meeting.
The plan established a dedicated real assets target of up to 3%.
The fund also terminated a domestic small- to mid-cap value equity manager at its August investment committee meeting.
The search will have a particular focus on European and global funds to increase the pension fund’s exposure outside of the U.S.
The retirement association recently made two redemptions for performance reasons.
The commitments to three firms totaled $180 million.
The plan also terminated three equity mandates as part of a domestic equity portfolio restructuring.
The plan approved credit and real assets commitments at today’s board meeting and will consider a private equity commitment next month.
The retirement system also recently made private markets commitments totaling $16.5 million.
