Real Estate
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
The plan committed to existing managers’ latest funds.
Search is for two managers to handle nearly $500 million in total.
The restructuring will next eliminate three more managers next month.
She is responsible for execution of acquisition and development strategies.
The hires followed finalist interviews held at last month’s board meeting while the fund decided against hiring either of the two closed-end core real estate managers it considered.
Plan disclosed new private equity and real estate commitments at its meeting last week.
Plan selected two finalists in its emerging markets small-cap equity search and added a real assets commitment for pacing purposes today.
The plan approved adding an unconstrained fixed-income manager to provide additional alpha generation and diversification to its portfolio at a meeting this week.
