Alternatives
The plan committed up to $100 million across two private equity funds this week.
The retirement fund will be looking to add an equity long/short strategy to its hedge fund portfolio in the first quarter.
The plan also concluded its emerging markets ex-China equity search at a meeting this week.
The retirement system also disclosed three new alternatives commitments at today’s meeting.
Managers are launching new open-end real assets funds as competition is increasing in most strategy types and firms that offer more investor-friendly fees and terms can be more competitive in searches, according to a new study.
The trust fund added core-plus real estate fund this month as it looks to increase its exposure to manufactured housing and residential real estate.
The fund expects to receive a recommendation to commit $120 million to a new infrastructure manager at this week’s board meeting as it’s underweight its target to the asset class.
The plan approved two commitments at a board meeting this week.
The plan last conducted a search nearly a decade ago.
The retirement system expects to launch an emerging markets small-cap search before the end of the year and a broad emerging markets search next year.