Orange County Employees Retirement System, Santa Ana, Calif., added a 1.5% allocation each to farmland and energy-related investments as part of its 13% real-return target allocation, Robert Kinsler, spokesman for the $7.8 billion system, wrote in an e-mail response to inquiries.
It was not known if searches will result.
As of April 30, the system had $932 million invested in real return — amounting to 12.6% of the total portfolio — with six managers: BlackRock, PIMCO, Schroder Investment, Hancock Timber, RMK Timberland Group and Wellington Management.
Funding for the new allocations could not be learned by press time.
Separately, the system named AllianceBernstein, Eagle Asset Management, Lord Abbett and Stephens Investment Management Group as finalists in a shortlist search to run a U.S. small-cap growth equity manager. Also, Acadian Asset Management, GMO, Mondrian Investment Partners, Putnam Investments and Pyramis Global Advisors were named finalists in a shortlist search for an international small-cap equity manager.
Staff will conduct due diligence on both groups of finalists and bring in selected firms to the investment committee for interviews. No further information was available at press time.
The system also committed $25 million to Morgan Stanley’s Prime Property Fund and selected incumbent Segal Co. as its consulting actuary. An RFP for an actuary had been issued in March.