Real Assets
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.
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.