Texas ERS Hunts For Real Estate Consultant

By Marc Sorondo

July 14, 2008

The Employees Retirement System of Texas (ERS) is aiming to bring a consultant on board to assist with the development of a long-term real estate investment strategy, said Mary Jane Wardlow, spokeswoman for the fund. She explained that the search evolved from the decision to invest in the asset class two years ago (See IMW, 12/18/06). At that time the ERS board decided to add a 15% allocation to real estate and private equity, with 7% going to real estate. The board has since hired Altius Associates as its private equity consultant (See IMW, 6/4/07).

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