Indiana State Teachers' Retirement Fund, Indianapolis, plans to search for equity real estate managers, said Robert D. Newland, chief investment officer. The $5.8 billion fund plans to allocate $150 million to real estate, its first investment in the area, as part of its effort to add alternative investments. It may hire two managers, one for core real estate and one for opportunistic property investments. The fund may start the search in September.
Callan will assist.