Real Estate
The plan is considering committing $700 million in commitments to five private market firms.
The plan approved a new target asset allocation at its board meeting today.
One will serve on the asset management team, while the other is director of senior loan transactions.
The upcoming search comes after the plan expanded its emerging manager utilization goals.
A trust fund in a Midwestern state approved the commitments during its board meeting last week.
A Southern state plan added a commitment with an existing private equity fund-of-funds manager and approved a real estate commitment at its board meeting last week.
The transaction is expected to close in the third quarter.
The new MD will be responsible for acquisitions and planning, financial structuring, development, asset management and dispositions.
The plan will relaunch an emerging markets equity search tomorrow and begin a domestic core fixed-income search next month.
A California plan agreed to initiate a real estate search following approval of a new asset allocation policy yesterday.