Real Estate
The retirement system hired a firm to replace its underperforming incumbent earlier this week.
ACORE Credit Partners II closes with total equity commitments of approximately $1.4 billion.
The plan received an international equity structure review at today’s meeting that calls for a public RFP process.
The hire completes a search launched last year following a new asset allocation approval.
The plan initially hired the core real estate manager in November as part of a search that was launched in 2022.
The system is seeking investment consulting services across investment practices and performance as well as general investment and alternatives asset classes.
The system approved private equity and real assets commitments with existing investment managers within its endowment at its board meeting last month.
The plan moved the assets to its passive core real estate manager.
The commitments include a first time relationship for the plan.
The retirement system added a value-add real estate commitment in February that marks the third in a row with the manager.