Real Assets
The plans adopted the new asset allocation following an asset study by their general investment consultant.
The global manager closed its latest real assets fund above its initial $400 million target.
The pension system also discussed a potential private equity pacing plan that calls for $80 million to $90 million per year to reach its 11% target.
The plan also terminated an international large-cap growth equity manager.
The retirement system closed on more than $500 million in commitments last month.
The plan is replacing the consultant following a review at last week’s board meeting.
The plan established a dedicated real assets target of up to 3%.
The fund also terminated a domestic small- to mid-cap value equity manager at its August investment committee meeting.
The search will have a particular focus on European and global funds to increase the pension fund’s exposure outside of the U.S.
The retirement association recently made two redemptions for performance reasons.
