CTPF approves $40m commitment

The US pension fund has backed Basis Investment Group's sophomore real estate credit vehicle.

Institution: Chicago Teachers’ Pension Fund
Headquarters: Chicago, United States
AUM: $12.2 billion
Allocation to alternatives: 14.3%

Chicago Teachers’ Pension Fund agreed to commit $40 million to Basis Investment Group Real Estate Fund II at its March 2021 Board of Trustees meeting, a contact at the pension informed PERE.

The US pension had previously committed $30 million to the maiden fund of the manager’s real estate debt series in 2017.

The $12.2 billion US public pension has a 9 percent target allocation to real estate that currently stands at 8 percent.

As illustrated below, CTPF’s recent fund commitments have predominantly focused on North American value-add vehicles.

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