Core-Plus
The hire completes a review of the real assets portfolio that will now see it split evenly between one core-plus and two core managers.
The pension plan will conduct a search for one or more core/core-plus real estate managers as part of a newly approved real assets fiscal year 2026 investment plan.
The change comes as part of an overall review of the real assets portfolio by its general investment consultant.
The retirement plan will hear from six total firms across core and core-plus strategies in the coming months.
The retirement fund’s investment committee also restructured its domestic equity portfolio to help meet impending sustainability goals.
The plan reviewed proposed allocation mixes that add a dedicated high-yield bond target while significantly increasing intermediate grade core-plus fixed-income, both of which would result in searches for new managers.
The retirement fund’s investment committee will interview three finalists in a $737 million search next week.
The deferred compensation plan hired an active domestic core fixed-income manager to complement its U.S. bond option today.
The retiree health care trust fund is interested in complementing or replacing its existing core-plus bond managers.
The pension fund is scheduled to review a draft RFP at next Thursday’s board meeting.