Infrastructure
The pension plan hired two infrastructure managers as the result of a newly approved asset allocation policy in the second quarter.
The plan received an infrastructure search report that included two candidates at today’s meeting.
The fund approved adopting changes to its target asset allocation at its September board meeting as it also made a $100 million infrastructure commitment.
The retirement system made infrastructure and private equity commitments totaling $295 million last week.
The commitments include two new manager relationships for the council.
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 search is open to equity-focused, open-ended strategies.
The plan created a 3% target to multi-asset credit earlier this year.
The fund reviewed proposed changes to the target asset allocation for its trust funds portfolio last month, including increases to private equity, public equity and private infrastructure.
The newly hired firm will provide private credit, private equity, real estate and infrastructure consulting services.