Real Estate
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.
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.