Hamilton Lane predicts that evergreen funds will grow faster than the overall rate of public markets over the next five years.
The plan will consider hiring a firm to replace a previously terminated domestic core real estate manager.
The ceo-elect will succeed CEO Robert Brooks on Jan. 1.
The fund exceeded its initial $1.5 billion fundraising target.
The search is only open to domestic core and core-plus real estate managers.
The fund has closed with approximately $8 billion in total capital commitments.
The city expects to conduct interviews the week of April 21.
The plan replaced two existing managers in the fourth quarter due to underperformance.
The pension plan recently approved three commitments totaling $165 million.
The new associate director serves on the firm’s product management team.