Real Estate
The retirement fund terminated two equity managers and disclosed commitments totaling $1.7 billion in August.
The retirement system agreed to hire a new discretionary private equity consultant while maintaining the incumbent consultant for discretionary private real return services.
The plan also recently added two public markets managers to its watch list.
The pension plan approved real estate and private markets commitments totaling $120 million yesterday.
The plan also renewed several of its investment consulting contracts at today’s board meeting.
The plan also delegated investment authority to its executive director.
The hire completes a review of the real assets portfolio that will now see it split evenly between one core-plus and two core managers.
The retirement fund is seeking primary direct private equity funds to handle up to $50 million in commitments.
The pension system added $240 million across the real estate, infrastructure and private credit asst classes last month.
The pension plan was notified of two commitments totaling roughly $700 million this week.