Real Estate
The pension plan introduced a 2% target to real estate debt as part of a new asset allocation policy adopted last month.
The retirement plan is screening for managers in the securitized credit, short-term investment grade and bank loan asset classes.
The pension plan recently made $1.8 billion in total commitments across its dynamic strategies, private equity and real assets portfolios.
The pension system will hear recommendations to add infrastructure and drop commodities, among other changes, at this week’s board meeting.
The plan will receive information on three real estate managers at its November meeting, which will also see a presentation from an underperforming domestic equity manager.
The pension plan hired a new domestic small- to mid-cap value equity manager and made commitments totaling $980.4 million in June.
The firm has successfully completed the final closing of its second real estate fund.
The plan approved commitments to two core infrastructure funds and one new core real estate manager relationship.
The pension plan added a private credit commitment alongside private equity and real estate co-investments in July.
The retirement system approved an active international equity manager RFP last week.