Oklahoma Teachers’ Retirement System, Oklahoma City, added a 5% allocation to core-plus real estate, a new asset class for the $8.5 billion system, according to James Wilbanks, executive secretary.
Funding will come from the system’s domestic equities portfolio, which currently has an allocation target of 53%, Mr. Wilbanks said in a telephone interview. It’s not yet decided if any managers will be terminated or if the funding will come from rebalancing.
There is no timeline yet on when the fund will search for a real estate manager.
The move is part of the system’s asset allocation review, which began about 18 months ago, Mr. Wilbanks said.