Real Estate
The fund exceeded its $3 billion target.
The search follows the plan’s decision to introduce a 5% dedicated private credit target allocation yesterday.
The four finalists will present in January for a $55 million mandate.
The recommended core bond hire represents “one of the final steps in realizing the restructuring of KCERA’s overall fixed income portfolio” from 2023.
The pension plan approved $435 million in alternatives commitments at its board meeting last week.
The search is open to general and private markets consultants.
The retirement trust doubled its allocation to a recently hired real estate manager at its board meeting this week.
Artisan has entered into an agreement to acquire a nearly $1 billion real estate firm.
The plan is seeking non-discretionary investment consulting services for its more than $500 million alternatives portfolio.
The retirement system will also receive private markets pacing schedules this week.