Real Estate
The plan is looking to invest $7 million with value-add real estate funds.
The redemption followed a new asset allocation approved last month that lowered the plan’s real estate target.
The search will target domestic long-only REIT managers.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.
The firm closed its latest flagship private market fund with nearly $4 billion in commitments from nonprofits and other institutional investors globally.
The investment and operations committee approved discretionary private credit and non-core real estate partnerships at this week’s meeting.
The plan has issued a request for quotations and qualifications for the services.
The plan is seeking broadly diversified core open-end real estate strategies.
The retirement system hired a firm to replace its underperforming incumbent earlier this week.
ACORE Credit Partners II closes with total equity commitments of approximately $1.4 billion.
