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Alternative Assets  + Real Estate  |  January 4, 2024
Oklahoma Teachers’ Retirement Eyes $300M for Real Estate
Joe Palmisano
By: Joe Palmisano

Oklahoma Teachers’ Retirement Eyes $300M for Real Estate

The Oklahoma Teachers’ Retirement System, which manages $20 billion in assets, has begun 2024 with two $300 million real estate manager searches.

Townsend is in charge of the searches for core and non-core real estate strategies. The searches will be available until the mandate size for each has been met, according to retirement system authorities.

The non-core real estate search is for a $200 million mandate to be allotted to a closed end commingled fund or funds or a separately managed account. The benchmark is the NCREIF ODCE+100 basis points. The core real estate search is for a $100 million mandate for an open-end fund commingled fund.

To-date the pension fund has an approximate $1.5 billion allocation to real estate. Through June 30, 2023, the system reported -4.4% in returns which was under its NCREIF ODCE+50 basis points benchmark.

Current managers/funds in the real estate portfolio are include AEW, American Realty Advisors, Angelo Gordon Fund V, Artemis Real Estate Partners III & IV, and Blackstone Fund X, among others.

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Inside The Story

Oklahoma Teachers’ Retirement System

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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