Alaska Retirement commits $200m to core vehicle

The $25 billion US public pension backs Blackrock's open-ended US fund.

The Alaska Retirement Management Board (ARMB) approved an investment of $200 million in Blackrock US Core Property Fund, a $1.7 billion open-ended fund originally launched in 1981.

This commitment is ARMB’s third exposure to private core real estate. The $25 billion US public pension has $250 million committed to the JP Morgan Strategic Property Fund and $202m to the UBS Trumbull Property Fund, the latter of which was fully redeemed at ARMB’s March board meeting.

ARMB has a current allocation to private real estate of 5.7 percent as part of its 16.7 percent portfolio allocation to real assets. Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.