The $22 billion Arizona State Retirement System is seeking advisors to sell its $190 million commercial loan portfolio and to do so has issued a request for proposals. The portfolio is comprises investment-grade loans for non-residential properties in the state of Arizona. CIO Paul Matson said plan officials decided to sell the portfolio because it was not diversified enough, and chose to sell the entire portfolio rather then sell the individual loans because of a lack of liquidity in the market. He added the due date for the rfps is July 16, and that plan officials expect the portfolio to be sold by the end of the year.
Arizona Looks To Sell Loans