Real Estate Asset Class

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Iowa Regents Examines Assets

The $1.8 billion Board of Regents for the State of Iowa is currently undergoing a review of its asset allocation, said Chief Business Officer Patrice Sayre. 'This is a formal review with our financial investment advisor, Wilshire Associates,' she said, adding that plan changes will be brought to the August Board of Regents meeting for discussion and anticipated approval. According to the minutes for the Regents April meeting, the board will consider increasing its investments in real…

Illinois TRS Expands Emerging Manager Program

The Teachers' Retirement System of the State of Illinois (TRS) will be expanding its $500 million emerging manager program, said Eva Goltermann, spokeswoman for the $38.7 billion plan. The program, which had earlier encompassed only the public market asset classes, will now also include investments in private equity, real estate and absolute return. Goltermann noted that up to 10% of the program could go into private equity investments. 'TRS staff will take the lead in identifying…

New York TRS Adds More PE, RE

The $105 billion New York State Teachers' Retirement System (NYSTRS) has beefed up its holdings in private equity and real estate. At its meeting last month, the board voted to commit up to $50 million in Caltius Partners IV, up to $175 in CS Strategic Partners IV, up to E50 million in Hutton Collins Capital Partners III and up to $75 million in ABRY Partners VI. The board also approved investments of up to $100 million…

Pa. SERS Approves New Investments

The Pennsylvania State Employees' Retirement System (SERS) has made new commitments in real estate and private equity, said Robert Gentzel, spokesman for the plan. The board approved investments of up to $75 million in Oculus Small-Cap Real Estate Fund I and up to $25 million in Lubert-Adler Real Estate Fund VI. On the private equity side, commitments of up to $40 million to ABS Capital Partners VI, up to $50 million each in Lime Rock Partners…

Fairfax Fund Could Change Asset Allocation

The $2 billion Educational Employees' Supplementary Retirement System of Fairfax County (ERFC) could revamp its asset allocation in the fall...

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Jersey State Adds To Alternatives

The New Jersey State Investment Council (NJSIC) has added four new investments to its alternative portfolio, confirmed Tom Bell, spokesman with the state's department of the treasury. The council approved a $75 million hedge fund investment with Ironbound Capital Management, as well as a $100 million private equity investment in Fairview's Capstone II NJDOI Emerging Manager Separate Account.

New Mexico ERB Hires for Alternatives

New investments in infrastructure, real estate and private equity recently received the green light at the $9.4 billion New Mexico Educational Retirement Board (NMERB), said Bob Jacksha, CIO at the Sante Fe plan. He noted that the board approved infrastructure investments of $50 million each to Citi Infrastructure Partners and Alinda Infrastructure Fund II, which gets the plan close to its target for the asset class. In real estate, the board also committed $50 million in Prima Mortgage Investment Trust. A $50 million private equity investment in Levine Leichtman Capital Partners IV was also approved.

Arkansas Approves New Investments

The Arkansas Teacher Retirement System (ATRS) made new investments in private equity and real estate investments at a meeting earlier this month. According to published reports, the board approved a $50 million private equity commitment in Vista Equity Partners' Equity III fund, which invests in software firms.

Morgan Stanley, AEW in at Orange County

The Orange County Employees Retirement System (OCERS) has selected AEW Capital Management and Morgan Stanley Real Estate Advisors to oversee $25 million each in real estate core open-end commingled funds, confirmed Robert Kinsler, spokesman for the $8 billion California plan. Kinsler said that AEW was selected because of its discounted fee structure, strong, research driven investment process and the existing relationship that the fund has with the manager. Morgan Stanley was awarded the mandate because of its long-term track record, diversified portfolio, investment team and the quality of the assets in its portfolio.

City of Baltimore Hires JPMorgan For Real Estate

The Baltimore Employees' Retirement System recently made an additional $5 million commitment to real estate. The funds will be invested in JPMorgan's Urban Renaissance Property Fund. According to the agenda for city of Baltimore's June 11 board of estimates meeting, there were two other finalist firms in the search. Callan Associates assisted the $1.5 billion fund.

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