Real Estate
The retirement fund also adopted a new long-term strategic asset allocation.
The retirement system previously extended its contract with incumbent Segal Marco Advisors for one year in October 2023.
The retirement fund made commitments totaling $2.7 billion in August.
The fund has allocated nearly 70% of its total equity across 70 assets that span seven alternative sectors.
The commitments include first time investments with three managers.
The plan also made a real estate co-investment with the manager earlier this year.
The plan’s consulting contracts are slated to expire in the first quarter of 2025.
The plan made the decision in closed session of its August board meeting.
The plan also named finalists in its non-core real estate and private credit searches.
The upcoming search complies with standard state procurement laws.