INVESTING/PORTFOLIO STRATEGIES

OCERS eyes real estate, emerging markets debt

Orange County Employees Retirement System, Santa Ana, Calif., is searching for a core real estate open-end commingled fund manager and also emerging markets debt managers, said Robert Kinsler, spokesman for the $9.6 billion pension fund.

The searches are invitation-only by general investment consultant R.V. Kuhns & Associates.

The pension fund is searching for a core open-end commingled manager to run assets over the next three to five years from the sale of properties currently in a separate account that OCERS is liquidating. There is no timetable for a selection.

The emerging markets manager search is being launched as a result of a new 3% target allocation to emerging markets debt.

Separately, at its June 27 meeting, R.V. Kuhns ran an educational discussion with the pension fund's investment committee on global REITs. The investment committee plans to continue discussing the role of global REITs in OCERS' real estate portfolio.