Ep.55: Speed to Scale Through Concentrated Diversification - Troy March - Director of Real Estate - North Carolina Retirement System

Troy March is the Director of Real Estate for the North Carolina Retirement System, where he oversees strategy formulation and management of an $8.5B real estate portfolio. With over 23 years of Real Estate experience, he specializes in sourcing, underwriting, and monitoring investments while contributing to the oversight of a $128B pension plan. Prior to NCRS Troy worked at Highwoods Properties and KIMCO.  Troy received his MBA from Indiana University and is a holder of the CCIM designation. 

Links:

North Carolina Retirement System - https://www.nctreasurer.com/

Troy on LinkedIn - https://www.linkedin.com/in/troy-march-08566a3/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:01:31) - Troy’s background and career

(00:07:50) - The Co-mingled fund model vs. Separate accounts

(00:15:16) - Identifying strategies, managers, and building relationships

(00:25:59) - Allocation strategies

(00:33:29) - Manager relationships

(00:38:13) - Investor communications

(00:39:46) - Preferences on manager experience

(00:45:24) - Seeking out help and the role of consultants

(00:47:08) - Macro-trends driving North Carolina’s thesis

(00:51:16) - How do you spend your time outside of work?

(00:54:34) - Getting in touch with Troy