Chicago Policemens’s Annuity & Benefits Fund approves $45m in commitments

The US public pension has backed North America focused funds.

Institution: Chicago Policemen’s Annuity & Benefits Fund
Headquarters: Chicago, United States
AUM: $2.60bn
Allocation to alternatives: 13.22%
Bitesize: $10-50m

The Chicago Policemen’s Annuity & Benefits Fund board has agreed in closed session to commit $30 million to Realty Associates Fund XII and $15 million to TerraCap Partners IV, Aoifinn Devitt, Chief Investment Officer, confirmed in an email. The value-add funds are managed by T/A Realty and TerraCap Partner.

The $2.60 billion US public pension has a 7 percent target allocation to private equity real estate that currently stands at 2.2 percent.

As illustrated in the charts below, CPABF has also made four commitments focused on private equity real estate in 2018, which combined constitute $70 million.

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