The $19.5 billion pension fund issued an RFP in December for a consultant to evaluate implementation approaches for its $1.1 billion private equity program. The pension fund traditionally has taken a fund-of-funds approach to its private equity program and does not currently have a consultant, Ms. Spencer said at the time. She would not provide finalist information.
Separately, the pension fund made a follow-on commitment of $30 million to Dune Real Estate Fund IV, an opportunistic real estate fund managed by Dune Real Estate Partners. The pension fund originally committed $20 million to the fund in 2017.
As of Dec. 31, the actual allocation to real estate was 8.7%.