Real Estate
The retirement association was notified of two real estate commitments and one private equity commitment last week.
The retirement system made seven private markets commitments totaling $35.6 million last month.
The firm hired a managing director to help lead its European Real Estate business after sourcing, underwriting, negotiating and structuring debt investments in Europe for a prominent manager.
The plan will commit a total of $330 million to the asset class for fiscal year 2026-2027.
The search is open to core and non-core real estate and infrastructure managers.
The retirement system also hired three firms in its diversifying strategies manager searches yesterday.
The new asset allocation also eliminated the plan’s hedge funds portfolio.
The trustees failed to decide on commitments in a non-core real estate search after opposing motions that followed finalist interviews.
The fund had been on watch for underperformance since last year but more recently abruptly replaced its lead portfolio managers.
The retirement fund also disclosed commitments totaling roughly $1.5 billion in March.
