St. Louis County Retirement Plan, Clayton, Mo., will invest $6 million in RREEF America REIT II, according to minutes of the $463 million plans March 29 board meeting released today. Funding will come from trimming $2 million each from large-cap equity portfolios run by OakBrook Investments, Aronson + Johnson + Ortiz and Jennison Associates . The board also voted to reallocate about $5 million from a bond portfolio run by Wellington Management to a similar portfolio managed by Aberdeen Asset Management.
Separately, the plan will search for two small-cap equity managers, one for growth and one for value, and are considering adding core-plus strategies to the plans $115 million fixed-income portfolio.
Neither Kirk McCarley, plan administrator, nor Kari Creighton, a consultant with Summit Strategies, which advises the plan, was available to provide details by press time.