Real Estate
The search is open to value-add and opportunistic real estate strategies.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.
The pension plan committed $200 million to real assets and real estate funds last week.
The pension plan introduced a 10% private markets target, which consists of one-third real estate/real assets, last year.
The pension plan introduced a 2% target to real estate debt as part of a new asset allocation policy adopted last month.
The retirement plan is screening for managers in the securitized credit, short-term investment grade and bank loan asset classes.
The pension plan recently made $1.8 billion in total commitments across its dynamic strategies, private equity and real assets portfolios.
The pension system will hear recommendations to add infrastructure and drop commodities, among other changes, at this week’s board meeting.
The plan will receive information on three real estate managers at its November meeting, which will also see a presentation from an underperforming domestic equity manager.