Real Estate
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The plan is looking to commit $10 million to the asset class for pacing purposes.
The state trust fund has hired a new real estate manager to handle investments in a core real estate index fund and a secondaries fund.
The plan also terminated its mandate with Western Asset Management at today’s board meeting.
The commitments include two new relationships for the council.
The retirement system added a trio of domestic core-plus fixed-income investments at last week’s board meeting.
The pension plan committed $120 million total to two existing manager relationships in the third quarter.
The pension fund is seeking U.S. residential real estate managers to handle at least $50 million.
The searches result from a new domestic equity structure.
The pension fund also added several private markets commitments in recent months.