Andrew Hedlund
Officials at the public retirement plan behemoth are set to provide feedback on Monday.
The New York-based alternative investment manager is the third real estate-related platform in which the private equity firm has invested in the last year.
The Hawkeye State retirement plan is awarding two contracts that will each be predominantly focused on US opportunities.
The debt fundraise comes as the Toronto-based asset manager gathers capital for its largest-yet equity vehicle.
Using the mid-range target of $3.5bn would make BRAVO III the third-largest closed-end PIMCO opportunistic fund.
.jpg?id=12885346978 "AllianceBernstein on road for third RE debt fund")
The previous fund surpassed its $1bn target after wrapping up fundraising last spring.
The real estate debt firm is currently looking to flesh out its investment staff for its new outpost.
The firm is seeking capital for a vehicle with a wider mandate than an earlier real estate debt vehicle.
.bmp "Värde wraps up 12th flagship fund")
The vehicle fell short of its predecessor’s $2bn close.
The hire follows Jennifer Paquette stepping down from her post as CIO after more than two decades at PERA.