Real Estate
The retirement system hired five managers to each handle between $50 million and $75 million yesterday.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The firm has closed its largest real estate fund to date.
The plan hired two core real estate managers following finalist interviews yesterday.
The plan also adopted a new strategic asset allocation at its board meeting this week.
The plan approved private equity and real estate commitments at its board meeting today.
The plan has now hired a total of 12 new international equity managers this year.
Fund IV marks the firm’s largest today at $309 million in equity commitments.
The retirement system also changed firms for private infrastructure and private real estate consulting services in awarding contracts that also included hedge fund, private credit and private equity.
The deal is expected to close this quarter.