Real Estate
The plan will consider adding a dedicated target to the asset class this week.
The plan reviewed proposed allocation mixes that add a dedicated high-yield bond target while significantly increasing intermediate grade core-plus fixed-income, both of which would result in searches for new managers.
The pension plan made $665 million in total private equity/current return and real estate commitments in the second quarter.
The pension’s investment committee introduced a 2.5% target to non-core real estate at this month’s investment committee meeting.
The plan was slated to hire replacements for two incumbent core real estate managers last week.
The retirement fund disclosed nine commitments totaling $1.2 billion in May.
The retirement system voted to commit to an additional core real estate manager to diversify its allocation.
The university is seeking a real estate associate to help find, diligence and manage investments across strategies that include multifamily, industrial, office and digital infrastructure.
The pension plan approved two commitments to private equity and real estate at a meeting today.
The university is seeking a director of investments, real estate and real assets to lead research and preparation of proposed strategy considerations within the asset classes.