Real Estate
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.
The plan discussed three commitments last quarter totaling $75 million.
The strategic plan calls for committing $300 million to the asset class.
The plan approved an RFP seeking value-add real estate managers to handle $7 million.
The plan made private equity and real estate commitments with two new managers and five existing managers in March.
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.