Real Assets
The plan will consider eliminating its global REITs allocation for liquidity purposes and disclosed a commitment to an existing infrastructure manager today.
The plan is seeking non-core real estate, farmland, timber and infrastructure strategies to fulfill an up to $400 million mandate.
The plan approved an infrastructure commitment with an existing manager and was informed of two credit commitments at yesterday’s board meeting.
The plan also disclosed a pair of private markets commitments.
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.