Real Estate
The plan launched a search last year to replace its underperforming incumbent.
The firm, which focuses on property-backed investments, has closed its seventh flagship fund above its target fundraise with 27% of all capital coming from nonprofits.
The university disclosed follow-on credit, infrastructure and real estate commitments made between October and April within its long-term portfolio.
The search is open to both equity and debt strategies.
The plan is looking to invest $7 million with value-add real estate funds.
The redemption followed a new asset allocation approved last month that lowered the plan’s real estate target.
The search will target domestic long-only REIT managers.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.
The firm closed its latest flagship private market fund with nearly $4 billion in commitments from nonprofits and other institutional investors globally.
The investment and operations committee approved discretionary private credit and non-core real estate partnerships at this week’s meeting.