Real Assets
The plan adopted a new asset allocation that includes a maiden target to the asset class.
The plan concludes a search that began in February.
The plan will first issue RFPs for global infrastructure and tactical asset allocation managers.
The plan added up to $340 million in commitments to existing private equity and real estate manager relationships.
The plan added up to $1.625 billion in new commitments at last week’s meetings.
The plan will target 5% each to the new asset classes.
The plan committed $910 million total to one new manager and two existing managers this week.
The plan is conducting the search to comply with state procurement laws.
The plan disclosed a recent agriculture commitment with a new manager.
The plan also approved two real assets commitments along with a 2023 pacing plan at last week’s meeting.