Real Estate
Plan finalized a $1.1 million commitment to a Texas-based firm in November.
The plan approved private equity and real estate commitments as part of its 2022 pacing plan.
The reliance on alternative investments led investors and allocators to pinpoint small, niche private equity managers, short-trading hedge funds and global private debt funds as key areas to capitalize on with the goal of yielding outsized returns.
The search will be conducted this year as part of a real estate structure review, which was approved at the meeting.
The plan will interview two finalists in its real estate consultant search and renewed its general investment consultant’s contract.
Plan is looking to fill a new $700 million allocation to global credit and conduct due diligence on its passive investment managers.
The new fund will target opportunities alongside sponsors that focus on growing secondary markets and gateway cities.
A Virginia-based pension plan added commitments with new and existing managers in September and made several changes to its fund lineup over the past fiscal year.
The search is due to the contract expirations of its two incumbents that currently manage over $900 million.
The plan’s current emerging markets equity manager stands to lose two mandates.