Real Assets
Plan added a real assets commitment to a prior manager relationship this week.
The retirement board’s latest search is required by state statute.
The firm will continue to provide private equity and real asset consulting services for the plan following its rehire last week.
The plan also concluded its emerging markets ex-China equity search at a meeting this week.
Managers are launching new open-end real assets funds as competition is increasing in most strategy types and firms that offer more investor-friendly fees and terms can be more competitive in searches, according to a new study.
The pension plan expects to issue an RFP to potentially replace a terminated core real estate manager next year.
The plan adopted a new asset allocation mix at its board meeting yesterday.
The retirement system expects to launch an emerging markets small-cap search before the end of the year and a broad emerging markets search next year.
The $80 million committed to non-core infrastructure funds at today’s meeting conclude the retirement fund’s pacing plan for 2024.
The plan will look to hire five firms after launching a search in January.