Real Estate
The plan issued an RFQ open only to core open-end real estate funds.
The plan’s real estate committee made two commitments with existing managers and one commitment with a new manager last week.
The plan approved new private credit, private equity and real estate commitments at its board meeting yesterday.
Plan finalized a $1.1 million commitment to a Texas-based firm in November.
The plan approved private equity and real estate commitments as part of its 2022 pacing plan.
The reliance on alternative investments led investors and allocators to pinpoint small, niche private equity managers, short-trading hedge funds and global private debt funds as key areas to capitalize on with the goal of yielding outsized returns.
The search will be conducted this year as part of a real estate structure review, which was approved at the meeting.
The plan will interview two finalists in its real estate consultant search and renewed its general investment consultant’s contract.
Plan is looking to fill a new $700 million allocation to global credit and conduct due diligence on its passive investment managers.
The new fund will target opportunities alongside sponsors that focus on growing secondary markets and gateway cities.