Real Assets
The commitments fulfill the plan’s 2026 real assets and private equity pacing plans.
The retirement system is conducting the search to “assess the feasibility” of establishing a private markets emerging manager program.
The retirement system also opted against action following an equity structure review last month.
The fund is more than 50% larger than its predecessor vehicle.
The plans adopted the new asset allocation following an asset study by their general investment consultant.
The global manager closed its latest real assets fund above its initial $400 million target.
The pension system also discussed a potential private equity pacing plan that calls for $80 million to $90 million per year to reach its 11% target.
The plan also terminated an international large-cap growth equity manager.
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.
