Real Assets
The plan is seeking one or two separate account managers to establish emerging manager programs for real assets and real estate.
The plan committed $300 million total to two managers this month and was informed of two private equity co-investments.
The plan is looking for a farmland manager to handle $35 million.
The plan anticipates committing up to $565 million total to the two asset classes this year.
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.
The plan made natural resources and real estate commitments last month and will consider a 2023 private markets pacing plan this week.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
The consultant will advise the plan’s nearly $335 million private markets portfolio.
The plan is watching two absolute return managers due to concerns related to turnover and portfolio construction.
The plan expects to approve a recommendation in the third quarter.