Real Estate
The plan agreed to utilize a fund-of-one manager to implement its maiden private credit allocation and hired a short-duration fixed-income manager this week.
The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.
The commitments include two new manager relationships.
The plan committed to a new private equity manager relationship and trimmed its real estate portfolio.
The plan concluded its core real estate replacement search at a meeting last week.
The termination follows a completed asset/liability study.
The plan committed to three funds run by new manager relationships.
Plan re-upped with another commitment to an existing real estate manager.
The searches will help fill out an asset allocation approved in 2021 that included new targets to the asset classes.
The plan committed to new funds with two existing managers.