Real Estate
The plan also decided to not continue with its REIT manager search.
The search will be conducted as part of a new policy to review vendor services every five years.
The plan committed a total of $20 million across private equity and real estate at its October board meeting.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.
The pension fund added $11 million in non-core real estate commitments at today’s board meeting.
The pension plan hired a new domestic large-cap growth equity manager and committed to an existing opportunistic real estate manager today.
The plan approved two non-core real estate strategies at a meeting today.
Retirement fund made real estate debt and private equity commitments at the end of the third quarter.
The commitments include private credit, infrastructure, farmland and real estate.