The Investment Committee (IC) received a presentation from Sterling Bay and Manulife Investment Management on May 23. After careful consideration and discussion, the Committee recommended that the Board authorize an investigation into a potential investment in the Lincoln Yards development. 

This decision represents an initial step in exploring the opportunity and conducting due diligence. No investment has been authorized at this stage. As fiduciaries, we believe in thoroughly evaluating all potential investment opportunities to ensure they align with our strategic goals and principles. To do that, we maintain a rigorous process that ultimately allows the Board to make the best decision for the Fund. 

CTPF staff, along with our real estate investment consultant, will begin a comprehensive examination of the Lincoln Yards development to determine if it aligns with our investment portfolio. The findings and recommendations will be presented at a subsequent meeting of the IC. If the IC Committee recommends moving forward, the recommendation will then be presented to the full Board of Trustees for consideration. If accepted, the Board will follow the Fund's formal procurement process, which involves issuing a Request for Proposals (RFP). 

To stay informed about the progress of the Investment Committee and Board of meeting agendas, registration details, and attendance information are posted in our calendar at ctpf.org/calendar.

CTPF appreciates and values member input. Please forward comments and questions to memberservices@ctpf.org.