Real Assets
The plan removed a manager structure constraint for its return-seeking fixed-income portfolio and approved a value-add real estate commitment with an existing manager this month.
The plan recently committed to four private markets managers.
The plan was notified of four commitments in closed session at yesterday’s board of investments meeting.
The plan will also target more $720 million to alternative funds in 2023.
Texas state governmental agencies appear to be continuing external manager relationships with BlackRock while being forced to divest direct holdings exposure to the firm as it is included in Comptroller Glenn Hegar’s initial list of financial companies that boycott energy companies.
The plan hired two managers to fill its maiden domestic small-cap equity target and committed to a new timber manager in August.
Pacing plan is set for private equity, real assets, real estate and direct lending for 2023.
The plan terminated an EAFE value equity manager that had been placed on watch in June for underperformance.
The plan is looking to fill a 5% target to liquid real assets within its OPEB portfolio approved over the summer.
The plan will issue an RFP for non-discretionary and discretionary services in January.