Lansing Retirement Systems, Lansing, Mich., will commit a total of $20 million to two commingled real estate partnerships; one with UBS and one with Clarion Partners. Douglas Rubley, deputy finance director of the $500 million fund, said the plan has not decided on how the money will be divided between the two. Assets most likely will come from fixed income, which Mr. Rubley said is overweighted.
The current allocation is 57% equity, 39% fixed income and 4% real estate. Asset Consulting Group advised on the hires.