Real Estate
The pension plan was notified of two commitments totaling $257.5 million at its Nov. 13 board of investments meeting.
The plan disclosed new private commitments made in recent months.
The retirement trust will interview two core real estate managers at its February board meeting.
The pension plan recently made commitments to two existing manager relationships.
The plan’s investment committee is recommending hiring two firms.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The plan is looking to commit $10 million to the asset class for pacing purposes.
The state trust fund has hired a new real estate manager to handle investments in a core real estate index fund and a secondaries fund.
The plan also terminated its mandate with Western Asset Management at today’s board meeting.
The commitments include two new relationships for the council.