Real Estate
The fund approved an up to $300 million commitment with a minimum investment of $250 million to an existing real estate manager.
The plan has now committed to four funds with the manager.
He will oversee multifamily investment activity in the Western U.S. region.
The plan committed $25 million to a new non-core real estate manager and approved a fiscal 2023 private markets pacing plan this month.
Plan will look to increase a direct lending fund-of-one commitment to $500 million from $300 million this week.
The plan recently made commitments with nine existing managers and one new manager.
The plan added a $20 million real estate commitment in July.
The new hires include a v.p. and a director responsible for relationships with institutional investors.
The plan made two maiden private equity commitments after receiving educations on the asset class in April.
The plan hired two new managers and disclosed five commitments at yesterday’s board meeting.