Real Estate
The plan’s incumbent manager was recently placed on watch for underperformance.
The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
The plan considered a new asset allocation last month that would increase its fixed-rate debt target and previously committed to an existing real estate debt manager.
The plan conducted a similar search in 2021 that did result in any hires.
The commitments include two new relationships for the council.
The plan is considering follow-on commitments to eight existing managers.
The plan expects to conclude the search process in the third quarter.
The plan disclosed $183.5 million in recent private equity, private credit and real assets commitments this week.
The plan will receive the real estate recommendation at its board meeting next week and the private equity recommendation in late March.
The plan made private markets commitments totaling $44.6 million and approved a 2023 pacing plan last month.
