Real Estate
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.
The plan replaced a commodities manager and added a global real estate manager to its watch list in the third quarter.
The fund extended the watch list status for one of its domestic equity managers during its August board meeting despite improved performance over the last three quarters.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The two finalists were selected yesterday and will interview with the plan’s board in November.
