Real Estate
The firm is acquiring a majority ownership stake in a U.S single-family residential credit investment manager in a deal that is expected to close in the first quarter.
The retirement system closed on more than $500 million in commitments last month.
The plan added three new contracts and retained others for investment consulting services.
The retirement association disclosed $60 million in private markets commitments following closed session deliberations.
The retirement fund also disclosed commitments totaling roughly $1.2 billion in July and August.
The fund also terminated a domestic small- to mid-cap value equity manager at its August investment committee meeting.
The retirement system also made one full redemption at today’s board meeting.
The search will have a particular focus on European and global funds to increase the pension fund’s exposure outside of the U.S.
The retirement system is seeking open-end core real estate managers to handle up to $40 million.
The retirement association recently made two redemptions for performance reasons.
