Meghan Morris
The country’s biggest pension fund has been pruning relationships with external managers and shifting its real estate allocation into safer investment strategies.
The European asset manager has held a final close for its second vehicle and has invested more than a third of its capital.
The transaction marks the company’s second acquisition in the city this year.
The Pennsylvania pension fund made follow-on commitments to industrial and debt funds, and added more money to its secondary and co-investment pool.
Leon Bressler’s firm is close to its €1.5 billion goal for its first fund following the July spinout from Perella Weinberg Partners.
The San Francisco-based firm set a $450 million target for its second fund.
The Chicago-based firm has hired AIG’s Daniel Gorzawski to lead its first location outside of the US.
The pension system cut its future allocations and reclassified real estate in an effort to improve the asset class’s risk/return profile.
MetLife is unloading the Bank of America Plaza after a string of exits in Tampa, Florida, in a record sale for the city.
The Bahrain money manager’s latest deals were part of more than $1.1 billion in real estate acquisitions in the past year.
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