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Pension trustees hear three real‑estate manager pitches and a private‑equity primer
Summary
At their quarterly meeting trustees heard presentations from Principal Asset Management, Stockbridge (Smart Markets Fund), and TA Realty on core open‑end real‑estate strategies, liquidity mechanics and sector tilts; the consultant also presented an overview of private‑equity access options and the J‑curve.
Trustees of the Jacksonville Beach retirement systems spent the bulk of the quarterly meeting hearing three managers pitch core, open‑end real‑estate strategies and receiving an educational briefing on private equity. Presentations focused on portfolio construction, liquidity mechanics and sector positioning — information trustees used later when authorizing a staged commitment to a manager.
Principal Asset Management opened the manager presentations. Greg Pittenger, Principal client advisor, and Darren Clice, Principal portfolio manager, described their core real‑estate vehicle as a diversified, lower‑leverage strategy with heavy exposures to industrial and residential property types and daily net asset value pricing. Darren Clice said the fund has had a…
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