Harrison Connery
A data center dilemma was at the core of the wealth fund’s decision.
Realty Income eyes $1bn in commitments by the end of Q1 2026.
Geopolitical uncertainty is less of a concern for the investor group than debt costs.Â
The Juneau-based pension is also looking to form new core/core-plus partnerships as its consultant calls a market bottom.Â
The New York-based manager, focused on the intersection of real estate and infrastructure, received investor commitments from both sleeves.Â
Head of private real estate Amy Cureton takes over for longtime real assets lead Bob Sessa, who has retired after 25 years with the fund.
On-site power generation is pushing real estate and infrastructure teams together.
Including $625m to funds and $880m to JVs, it is the pension investor’s highest quarterly allocation to the asset class in at least 10 years. Â
Early indications of an uptick in transaction activity signal the end is in sight for the drought of real estate fund distributions.
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Grosvenor, Shaftesbury investments have helped to rebalance the sovereign wealth giant’s sector exposure.Â