Real Estate
The pension fund launched a search for managers earlier this year.
The plan also added a pair of commitments to a new private equity manager relationship.
The pension plan disclosed commitments totaling $720.7 million in the first quarter.
The recommended hire of an additional active core-plus manager comes after the decision to implement an all-active approach.
The plan’s RFP received a total of 16 open-end real estate products.
The pension plan eliminated its floating rate bonds target as part of a newly approved asset allocation last month.
The pension fund approved the search for one or two managers last week.
The plan will seek one or two managers to handle a total commitment of $450 million.
The pension trust is targeting the RFP’s release for early summer.
The pension fund is seeking open-end core and core-plus real estate managers to handle a total of $33 million.