Real Estate
The retirement fund terminated a fixed-income manager and made commitments totaling $2.9 billion in March.
The commitment is consistent with the pension plan’s goal of adding geographic diversification to its core real estate portfolio.
The retirement system will receive educations on the asset classes at a third quarter board meeting.
The plan committed to two funds after interviewing five finalists this month.
The pension system added up to $80 million across asset class strategies in February.
The fund will target value-add opportunities within the U.S. multifamily sector.
The retirement fund will interview three finalists in its general investment consultant search next week.
The retirement fund also tabled a proposed value-add real estate commitment today.
The retirement system will interview two sets of finalists next month.
The plan will target core/core-plus and non-core real estate this year.