
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.
