Orange County Employees’ Retirement System, Santa Ana, Calif., plans to issue an RFP for a real estate consultant as early as August. The fund’s real estate allocation is $320 million.
Separately, the $4.4 billion system hired Dresdner RCM for a $150 million passive international equity growth portfolio and Marvin & Palmer for a $100 million active non-core high alpha international equity fund. Funding comes from a $250 million EAFE growth portfolio run by Schroder, terminated because of performance, said Farouki Majeed, investment officer.
The board also added $30 million to the BGI Bond Fund, bringing that investment up to $180 million; funding comes from a fixed-income portfolio run by Kennedy Associates, which resigned because it no longer manages fixed-income.
