Iowa Public Employees’ Retirement System (IPERS) is planning to search for active timberland and farmland investment managers, Pensions & Investments reports. The retirement system aims to start the search around May 1, assisted by consultant Wilshire Associates.

The system is expecting to hire one timberland and one farmland investment manager, with each mandate likely to be in the $50 million to $150 million range. The mandates will be restricted to North America.

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