Oklahoma Teachers' Retirement System, Oklahoma City, hired six real estate managers to run a total of about $300 million in opportunistic and value-added strategies, said Tom Spencer, interim director of the of the $14.2 billion pension fund, in an e-mail. Mr. Spencer will become executive director, effective Nov. 1.
Starwood Capital Group, Dune Real Estate Partners and GreenOak Real Estate Partners will run about $50 million each in opportunistic real estate.
Earlier this year, the pension fund increased its target allocation to real estate to 7% from 5%. RFPs were issued in January for value-added and opportunistic real estate managers.