Key Takeaways
- • The Alaska Retirement Management Board approved three $100 million core real estate mandates, totaling $300 million, with Principal, AEW and TA Realty at its September 15-16 meeting.
- • Each manager will receive an initial $100 million contribution, subject to successful contract negotiations.
- • The mandates are for open-end core real estate fund strategies, placing the allocations in core, lower-volatility property exposure.
- • The board's $21 billion portfolio is also running a separate manager search for up to $100 million in infrastructure.
Summary
The Alaska Retirement Management Board has approved the hiring of Principal, AEW and TA Realty for three open-end core real estate fund mandates, according to a meeting summary published by the board. The decisions were made at the board's September 15-16 meeting, with each manager set to receive an initial $100 million contribution, for a combined $300 million. The awards are subject to successful contract negotiations, so final terms and funding timing remain pending.
The mandates target open-end core real estate funds, a strategy typically focused on stabilized, income-producing assets held in long-term vehicles. Principal's allocation is for its US real estate fund, while AEW's mandate is for its core property fund. TA Realty was also named among the three core open-ended managers.
The board, which oversees a portfolio of roughly $21 billion according to its institution profile, is separately looking to allocate up to $100 million to infrastructure through a manager search. Coverage of the award appeared on Institutional Real Estate, Inc. with a later headline dated September 25, 2026.
The mandates target open-end core real estate funds, a strategy typically focused on stabilized, income-producing assets held in long-term vehicles. Principal's allocation is for its US real estate fund, while AEW's mandate is for its core property fund. TA Realty was also named among the three core open-ended managers.
The board, which oversees a portfolio of roughly $21 billion according to its institution profile, is separately looking to allocate up to $100 million to infrastructure through a manager search. Coverage of the award appeared on Institutional Real Estate, Inc. with a later headline dated September 25, 2026.
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