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Iowa pension fund seeks real assets fund manager, plans first infra investment
Investors - JANUARY 15, 2020

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Iowa pension fund seeks real assets fund manager, plans first infra investment

by Kali Persall

Iowa Public Employees’ Retirement System (IPERS) is planning to launch a request for proposals (RFP) 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.

She noted that IPERS is also planning to commit $500 million to infrastructure, which would be a first for the portfolio.

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.

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