Real Assets
The retirement system doubled its target to value-add real estate at a board meeting today.
The retirement association selected a firm to split its 6% allocation to liquid credit at today’s board meeting.
The firm terminated a roughly $100 million mandate and will use the proceeds to support benefit payments and fund capital calls.
The state pension fund is considering a private markets emerging manager program and will issue an RFI as it looks to gather further insight into the process.
The retirement system approved real estate and real assets commitments at a board meeting last week.
The commitments include two new manager relationships for the plan.
The pension system added up to $175 million in new commitments in April.
The retirement system made seven private markets commitments totaling $35.6 million last month.
The search is open to core and non-core real estate and infrastructure managers.
The plan tapped an active manager after voting to move to an all-active approach for the fixed-income portfolio to achieve better long-term return prospects.
