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Maine PERS Plans for Real Estate Changes

The Maine Public Employees' Retirement System is expected to increase its investments in public real estate, and include opportunistic funds in its portfolio. According to IPE Real Estate, Andrew Sawyer, CIO at Maine PERS said the system would be considering a 'variety of new investment strategies for the future.' Recently hired real estate consultant ORG Real Property will assist the plan with its investments in the asset class. Reportedly, Maine PERS has a real estate portfolio valued…

Alaska Plan Adopts New Portfolio Targets

The $14.5 billion Alaska Retirement Management Board (ARMB) slightly tweaked its asset targets at a meeting last week. The changes will take affect in the fiscal year beginning July 1. According to The Juneau Empire, the new asset allocation has less of the ARMB's assets being invested in absolute return strategies, as the board has cut that particular target by 1%. The plan will diversify its remaining assets in the space among more hedge fund managers, however. Additionally,…

CPPIB Plans for More Real Estate

The Canada Pension Plan Investment Board (CPPIB) is eyeing additional real estate investments as declining values are making the market more attractive, Graeme Eadie, senior VP of real estate has reportedly announced. A Bloomberg News notes that investments within the U.S., U.K. and Australia are particularly on the plan's radar. The C$105.5 billion will seek out opportunities in real estate, infrastructure projects and private debt, Eadie said in a conference call. The goal is to generate long-term…

Aldus Equity Losses Connecticut Account

Yet another retirement plan has terminated Aldus Equity Partners. Connecticut State Treasurer, Denise Nappier has removed the firm from a $65 million private equity fund-of-funds account it managed for the $20.2 billion Connecticut Retirement Plans and Trust Funds (CRPTF). Aldus, along with one of its founding principals, Saul Meyers, has been charged by the SEC for participating in an kickback scheme in New York. …

Alabama Endowment Drops REIT

The University of Alabama has removed its assets from the Vanguard REIT Index Fund, according to published reports. The Tuscaloosa News has reported that the board of trustees has voted to terminate the manager due to poor returns. The endowment fund had invested 2% of its total assets in the Vanguard REIT. The volatile market has taken a toll on the fund. Last year, it lost 25.6% of its value, taking its worth from roughly $1 billion…

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San Diego Gov’t. Plan Issues RFP

The San Diego Association of Governments (SANDAG) is looking to hire a firm to provide investment management, advisory and reporting services for its portfolios. The contract would be for a four-year term, with optional extensions for up to six additional years. Further details regarding the search, including the size of SANDAG's portfolios, were unclear. Officials at SANDAG referred calls to Janet Yeh, contract administrator, who could not be reached by press time. According to the…

LACERS Remains with PCA

The Los Angeles City Employees' Retirement System (LACERS) has extended the contract of general investment consultant Pension Consulting Alliance (PCA) for an additional year, said Linda Aparicio, spokeswoman for the $8.2 billion California plan. PCA's contract was set to expire on June 30, but will now go through to June 2010. Aparicio noted that the extension would give the board time to consider conducting a general investment consultant search in the future. The board also approved…

More Alternatives in New Mexico PERA’s Future

The New Mexico Public Employees' Retirement Association (NMPERA) will implement an action plan to get its alternative investment allocations up to target by the end of 2009, Robert Gish, director of investments with the roughly $8.2 billion system, told IMW. Gish explained that the plan currently has a 15% allocation to alternatives. Hedge funds and private equity each receive 5% each, while 2.5% each is invested in real estate and tangible assets. However, the plan has…

Alameda County Reviews Investment

The Alameda County Employees' Retirement Association (ACERA) discussed a special situations investment earlier this month, according to recently released minutes from an investment committee meeting. The plan's staff and consultants at Strategic Investment Solutions (SIS) have recommended a $20 million investment with Oak Hill Advisors as part of the plan's Private Equity and Alternatives Return Leading Strategy (PEARLS) allocation. Further details regarding the investment could not be ascertained as officials at the plan declined to…

Iowa PERS Makes Portfolio Changes

The Iowa Public Employees' Retirement System (IPERS) has approved increases in its allocations to long-only enhanced equity index strategies and to global macro for use in a portable alpha strategies, said Karl Koch, CIO with the $16.8 billion plan. 'RFPs for the global macro and the long-only enhanced equity index mandates will be issued sometime late summer, after August 1,' he said. Koch said the plan's consultants with Wilshire Associates would be assisting with the…

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