OCERS hires Meketa for real estate monitoring services

The $13.89 billion Orange County (Calif.) Employees Retirement System hired Meketa Investment Group to provide real estate monitoring services for its $1.1 billion real estate portfolio at its Feb. 22 investment board meeting, according to board-meeting documents.

The selection was mandated by the recent departure of the real estate team from former real estate consultant RVK, resulting in OCERS declaring the contract with RVK for real estate services null and void.

Meketa already maintains current research on 95 percent of the managers in OCERS real estate portfolio.

In additional topics discussed at the Feb. 22 investment board meeting, OCERS focused on the review of possible target ranges and implementation related to its asset allocation. The topics included discussion and adoption of target ranges, re-categorization of existing strategies, elimination of existing strategies that no longer fit into the adopted asset allocation, and an effort to simplify its