Real Estate
The recommended core bond hire represents “one of the final steps in realizing the restructuring of KCERA’s overall fixed income portfolio” from 2023.
The pension plan approved $435 million in alternatives commitments at its board meeting last week.
The search is open to general and private markets consultants.
The retirement trust doubled its allocation to a recently hired real estate manager at its board meeting this week.
Artisan has entered into an agreement to acquire a nearly $1 billion real estate firm.
The plan is seeking non-discretionary investment consulting services for its more than $500 million alternatives portfolio.
The retirement system will also receive private markets pacing schedules this week.
The plan approved two commitments for pacing purposes.
The board replaced its sole real estate manager last month due to organizational concerns and a decline in assets.
The pension plan disclosed commitments totaling roughly $778 million in the third quarter.