People - JANUARY 21, 2016

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New Hampshire pension fund hires real estate managers

by Zoë Wolff

The $198 million Manchester (N.H.) Employees’ Contributory Retirement System is hiring three new real estate managers, pending review by the pension fund’s legal counsel, according to Gerard Fleury, executive director of the retirement system.

The pension fund committed $2.5 million to Blue Vista Capital Management’s fourth fund to invest in U.S. core real estate, $2 million to Brookfield Asset Management’s second global opportunistic real estate fund, and $1.5 million to the fifth fund in DSF Group’s niche multifamily fund series.

As of December 2014, the pension fund had a 10 percent target allocation to real assets, which includes real estate.

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