Real Estate
The search is open to real estate debt, opportunistic and value-add funds.
The two commitments were made for pacing purposes.
The retirement fund terminated a fixed-income manager and made commitments totaling $2.9 billion in March.
The commitment is consistent with the pension plan’s goal of adding geographic diversification to its core real estate portfolio.
The retirement system will receive educations on the asset classes at a third quarter board meeting.
The plan committed to two funds after interviewing five finalists this month.
The pension system added up to $80 million across asset class strategies in February.
The fund will target value-add opportunities within the U.S. multifamily sector.
The retirement fund will interview three finalists in its general investment consultant search next week.
The retirement fund also tabled a proposed value-add real estate commitment today.