Oklahoma Teachers' Retirement System, Oklahoma City, approved two invitations to bid for a total of $300 million in core and non-core real estate for calendar year 2024, according to Sarah Green, executive director of the $20.1 billion retirement system.
The pension fund is looking to place $200 million into non-core real estate and $100 million into core real estate. The search will remain open until the mandate size has been fulfilled.
The ITBs for both real estate searches are available on the pension fund's website.
The board also committed $100 million to Landmark Real Estate Partners IX, Green said.
The commitment to the secondary real estate opportunistic fund managed Landmark Partners, which is now part of Ares Management, was approved at a board meeting Nov. 15, Green said.
The pension fund previously committed $35 million to Landmark Real Estate Partners VII in 2014, according to Green.
As of Sept. 30, the pension fund's allocation to real estate was 7.9%; its target is 10%.
