Vermont Pension Investment Committee, Montpelier, named finalists for one portion of its search for non-core real estate managers to run a total of up to $36 million, confirmed Stephen Rauh, chairman of the investment committee.
The committee, which oversees the $3.8 billion Vermont State Retirement Systems, named multimanager real estate funds from Franklin Resources, Partners Group and Siguler Guff & Co. as finalists. They will make presentations at the committee's Jan. 28 meeting.
An RFP was issued in September as a result an increase in the target to non-core real estate managers to 6% from 4.5% as part of the committee's annual asset allocation review. At its Nov. 27 meeting, the committee narrowed its focus to multimanager funds and real estate debt funds.
Real estate debt finalists will be named later, Mr. Rauh wrote in an e-mail.
Investment consultant NEPC is assisting.