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The current consultant’s contract is slated to expire on June 30.
The plan last conducted a real estate consultant search in 2017.
The asset allocation changes resulted in several manager hires and terminations at the retirement system’s November meeting.
The plans launched a search in September as they looked for improved investment performance.
The university added six alumni, including one with investment experience, to its board of trustees in recent months.
The co-founder of a small-cap growth specialist firm died last month due to complications from a previous illness.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.
The retirement system concluded its consultant search after relaunching it in September.
The plan selected two firms in its infrastructure manager search.
The plan received three responses to a passive equity manager RFP issued in August.