Real Estate
The pension plan approved real estate and private markets commitments totaling $120 million yesterday.
The plan also renewed several of its investment consulting contracts at today’s board meeting.
The plan also delegated investment authority to its executive director.
The hire completes a review of the real assets portfolio that will now see it split evenly between one core-plus and two core managers.
The retirement fund is seeking primary direct private equity funds to handle up to $50 million in commitments.
The pension system added $240 million across the real estate, infrastructure and private credit asst classes last month.
The pension plan was notified of two commitments totaling roughly $700 million this week.
The pension fund will interview four finalists apiece in respective private debt and data-center-focused real estate searches in the coming months.
The retirement system received proposals from five firms following an RFP issued in January.
The retirement system’s board also approved up to $250 million across private markets commitments at today’s meeting.