The pension giant’s public equity portfolio returned 16.7% for the year, but the overall portfolio fell short of its 7% target.
Nearly half of the commitments were made to three private equity funds.
Morningstar says multi-family’s finances are even more precarious.
The world’s most populous nation is enjoying a stock market surge and appears poised for further investment.
The pension fund also rehired NEPC as its real estate investment consultant.
Notable among the pension giant’s outlays was a $1 billion investment in a fund managed by Khosla Ventures.
The authors claim their Spread Based Direct Alpha method is more accurate than current measurements.
The private equity giant has shifted from offices and malls to logistics, rentals and hospitality assets.
The $242.3 billion state pension fund also committed more than $600 million to alts in February.
