Iowa Public Employees’ Retirement System (IPERS) is planning to launch a request for proposal this week in search of a fund manager for its private real assets portfolio, a spokesperson for the fund told IREI in an email.
The search for a fund manager was sparked by a desire to diversify the asset class, which comprises commercial real estate in the United States and partnerships that invest in timberland and farmland in North America, said Shawna Lode, communications director at IPERS.
The pension fund had a 6 percent allocation ($2.1 billion) to private real assets, as of June 2019.
The pension fund is anticipating a mid-February due date for proposals. A decision timeline will depend upon how many firms/funds respond and how much time it takes to evaluate the applicants.
