FRS Trust Fund confirms $375m in commitments

The US public pension has backed two funds in its round of first quarter real estate commitments.

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Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, United States
AUM: $160.94bn
Allocation to alternatives: 17.20%
Bitesize: $100-200m

Florida Retirement System Trust Fund approved $375 million-worth of commitments to a pair of real estate vehicles in Q1 2020, according to the pension’s quarterly investment report.

The commitments comprise of $225 million to Cerberus Institutional Real Estate Partners V and $150 million to TriGate Property Partners IV.

The $160.94 US public pension has a 10.0 percent target allocation to real estate that currently stands at 9.60 percent.

As illustrated below, FRS Trust Fund’s four most recent real estate commitments have been to a pair of opportunistic vehicles, alongside one vehicle each with debt and value-add strategies.

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