Real Estate
The pension plan updated its asset allocation policy for fiscal year 2025 and beyond after receiving an asset allocation review this week.
The plan has issued RFPs seeking core infrastructure and core real estate funds.
The plan is considering adding core and core-plus fixed-income managers to its portfolio.
The plan also eliminated its 20% covered calls and 2.5% REITs targets.
The commitments include a new manager relationship and a follow-on.
The plan will also receive a recommendation to renew its general investment consultant contract through 2029 this week.
The plan made three commitments with existing manager relationships.
The search for core and core-plus managers is being recommended as part of a 2024 pacing plan.
The plan launched a search last year to replace its underperforming incumbent.
The firm, which focuses on property-backed investments, has closed its seventh flagship fund above its target fundraise with 27% of all capital coming from nonprofits.