Real Estate
The retirement system selected three absolute return managers and two real estate managers for possible inclusion within its investment lineup last week.
The pension plan added $79 million in commitments this week.
The retirement fund placed three underperforming investment managers on watch in September.
The fund exceeded its $3 billion target.
The search follows the plan’s decision to introduce a 5% dedicated private credit target allocation yesterday.
The four finalists will present in January for a $55 million mandate.
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.