Real Estate
The retirement system added the two new asset classes as part of a completed asset allocation study.
The plan’s investment consultant is conducting a search for real estate managers to form a joint venture targeting value-add industrial real estate projects.
The commitments were made across private equity, credit and real assets totaled $725 million.
Nuveen announced today the closing of a separately managed account for the $346.5 billion California State Teachers’ Retirement System.
The retirement system committed to three existing manager relationships in the past two weeks.
The university is barring investment decisions that are based primarily on environmental or social factors in light of a new state law, while its outsourced cio looks to increase private real estate allocations.
The plan is seeking value-add/opportunistic real estate and global multi-asset allocation managers.
The pension fund is seeking a manager to handle a diversified real assets strategy that must include commodities, precious metals and infrastructure/real estate.
The plan recently made four private markets commitments totaling $325 million.
The fund will also review a high-yield fixed-income manager search request from staff at its June 13 board meeting.