Nebraska Investment Council plans to hire Aksia and Meketa Investment as consultants for its $967m (€920.9m) real estate portfolio, a decision that concludes the request for proposal (RFP) process that began in June of last year.
The $17.2bn pension fund disclosed in a board meeting document that it believes hiring two consultants will leverage each firm’s strengths.
A total of 13 firms responded to the search, with Albourne, ORG and Wilshire among the real estate semi-finalists.
The new consultants will be responsible for conducting annual reviews, developing pacing plans and assisting with the selection and monitoring of private real estate investments.
Nebraska Investment Council’s real estate portfolio, with a 7.5% target allocation, is invested in core and value-add funds through open-ended and closed-end structures.
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