San Joaquin County Employees' Retirement Association, Stockton, Calif., terminated real estate consultant StepStone Group and transferred the services to its general investment consultant Meketa Investment Group.
The $3.1 billion pension fund's board approved the changes at its Jan. 10 meeting, said recently released meeting minutes. The reason for the change was not provided.
The board previously approved disbanding the pension fund's real estate committee at its Dec. 13, previous minutes said.
As of Sept. 30, the actual allocation to public real estate was 2.4%.
Chris Wisdom, investment officer, referred questions to CEO Johanna Shick, who could not be immediately reached to provide further information.