Real Estate
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.
The plan received information on a total of 15 managers at its meeting today.
The pension plan recently committed $280 million total to credit and real estate funds.
The plan added approximately $300 million in commitments across August and September.
The plan made real estate and infrastructure commitments at a meeting this month.
The plan committed to two value-add real estate funds at today’s board meeting.
The plan’s real estate committee approved four commitments in August and its hedge fund committee terminated an existing mandate in July.
The pension plan selected seven absolute return managers for possible inclusion within its investment lineup and tweaked its asset allocation policy last week.
The plan hired several managers at its board meeting today, totaling more than $1 billion.