Real Estate
The third opportunity zone fund comes after the firm held the final close of its second opportunity zone strategy in excess of its predecessor fund.
The foundation approved new allocations to private debt, real estate and fixed-income strategies in the first quarter.
The plan approved private equity and non-core real estate commitments at today’s meeting.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan’s investment committee approved a real estate commitment with an existing manager last week.
The plan amended its five-year asset allocation plan to include a maiden target to tactical opportunities and approved three pacing plans in alternatives asset classes last week.
The city hired two equity managers and three private markets firms.
The fund expects to receive an education on portfolio leverage and portable alpha strategies this month before it reviews its strategic asset allocation this summer and restructuring its real estate portfolio later in the third quarter.
The plan will consider three pacing plans at its board meeting this week and recently added a private equity commitment with an existing manager.
The search is for value-add managers to handle up to $7 million.