REIT
The retirement system introduced a 3% public real assets target and made two private equity commitments in February.
The search is for one or more domestic public long-only managers.
The RFP will be issued on the plan’s website “shortly.”
The pension plan updated its asset allocation policy for fiscal year 2025 and beyond after receiving an asset allocation review this week.
The plan also eliminated its 20% covered calls and 2.5% REITs targets.
The plan launched a search last year to replace its underperforming incumbent.
The search will target domestic long-only REIT managers.
The plan is seeking managers to handle a total of $135 million.
The pension plan hired three REIT managers to evenly split a $250 million allocation.
The pension plan will consider replacing its REIT manager due to the firm’s underperformance.
