Real Estate
Plan added three value-add commitments with existing manager relationships.
The plan disclosed several new private commitments in addition to two absolute return manager redemptions at its meeting Friday.
Selected international large-cap growth equity manager will handle between $1 billion and $2 billion and the U.S. REIT manager will manage between $100 million and $200 million.
Plan has not fully executed an RFP for the services since 2010.
Global value hire will replace the plan’s existing passive global core equity mandate with Northern Trust Asset Management.
Plan will narrow a diversified core real estate manager search to finalists after reviewing an initial list of candidates last week.
The plan concluded a global equity search conducted in the fourth quarter.
Plan added commitments totaling roughly $2.7 billion with six existing managers and two new managers in March.
Plan is targeting direct lending strategies and will award up to $600 million per mandate.