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DCRB approves $40m commitment

The US public pension has backed Rockwood's 11th series value-add real estate vehicle.

Institution: District of Columbia Retirement Board
Headquarters: Washington DC, United States
AUM: $8.54n
Allocation to alternatives: 13.0%
Bitesize: $10-50m

District of Columbia Retirement Board has agreed to commit $40 million to Rockwood Capital Real Estate Partners XI, according to the pension’s September board meeting minutes. DCRB previously committed $25 million to the fund’s predecessor in 2015.

The $8.54 billion US public pension has a 6.0 percent target allocation to real estate which currently stands at 5.0 percent.

As illustrated below, this commitment marks DCRB’s first foray into real estate investing since a $30 million commitment to Artemis Real Estate Partners Fund III in January 2019.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.