Real Estate
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.
The value-add real estate manager has promoted an asset manager to v.p. of asset management to oversee its asset management team and take over responsibility for risk management.
The plan made natural resources and real estate commitments last month and will consider a 2023 private markets pacing plan this week.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
Firm’s new global head of real estate will lead the growth of its Canadian and U.K. real estate platforms in key markets.
The plan will consider multi-asset credit manager recommendations in March and terminated mandates with GMO and MetLife last week.
The changes followed two separate asset/liability studies from general investment consultant Verus.
The plan expects to approve a recommendation in the third quarter.
The pacing plans will target a combined $625 million to the two asset classes.
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.