Vermont seeks international real estate manager
The $3.6 billion Vermont Pension Investment Committee is launching a search for an international real estate manager, according to recent meeting documents. The search was approved at Vermont’s March 22 committee meeting and is expected to be completed by its Aug. 23 meeting. No specifics have been set yet. According to the meeting documents, the search will help to diversify the pension fund’s real estate portfolio after the target was raised to 8 percent from 6 percent in February. Investment consultant NEPC is assisting with the search.