Real Estate
The plan will interview two real estate managers as it looks to complete its pacing plan for the asset class.
The plan will interview three finalists for its large-cap growth search.
But uncertainty remains about future of real estate property income levels and asset prices and their effect on returns.
The plan will begin a private equity manager search with a focus on secondaries.
The plan hired two emerging managers in its non-core real estate search.
The plan moved its four index funds with Vanguard Group to index funds with Fidelity Investments.
The plan committed a total of $150 million to real assets and real estate funds at its meetings last week.
A California pension plan approved a non-core real estate commitment in line with its fiscal year 2022 pacing plan.
The plan added an Asian core real estate commitment with an existing manager.
The hires conclude a strategic fixed-income implementation plan.