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Canada’s Public Sector Pension Investment Board said on Thursday it expects to cut its exposure in greenhouse gas emitting assets by 20-25% in the next four years as part of its new climate strategy.
Plan will seek a real estate manager to diversify its portfolio.
Search is for a firm to provide record keeping, plan compliance support and administration, among other responsibilities.
Plan reissued an RFP for investment consulting services originally launched in April due to the impending contract expiration of its incumbent.
The plan last conducted a similar search in 2015.
The executive director will be part of the firm’s business development team.
The transaction closed on June 8, and its proceeds will be reinvested into Gramercy’s strategies.
Plan promoted its deputy cio to replace Robert Clark, who submitted his intent to resign in April.
Plan’s board committed $130 million to a private equity energy fund and was notified of an additional private equity commitment this week.
Plan’s new 4% target to private equity will help increase its expected return.