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LP Radar – August 2016

See the latest PERE LP updates, including allocation changes and people moves.

31 August

Teachers' Retirement System of the State of Illinois has committed up to $300 million from the system’s $6.9 billion real estate portfolio to Starwood Global Opportunity Fund XI. 

Dallas/Fort Worth Airport has committed $10 million to PIMCO Corporate Opportunities Fund II on behalf of the DFW Retirement Plans Trust and terminated its investment agreement with the PIMCO DISCO II Fund. 


30 August

New Mexico Educational Retirement Board approved a $150 million commitment to Lone Star's Fund X at its investment committee meeting on 25 August. The investment combines $100 million from its opportunistic credit allocation and $50 million from the real estate portion of its portfolio.


26 August

Chicago Teachers' Pension Fund’s board is soliciting proposals from all qualified professional firms interested in providing investment management services with an emphasis on diversified core and non-core commercial real estate debt strategies.

Vermont State Retirement System’s investment committee unanimously approved a motion to allocate an additional $15 million to the Siguler Guff’s Distressed Real Estate Opportunities Fund II-A.


25 August

The Ohio Public Employees' Retirement System revealed in its board document that it is currently investing $8.5 billion in private real estate, representing 11.4 percent of the portfolio. It starts disposing of its property assets and does not plan to make any new fund commitments.

19 August

California Public Employees' Retirement System is soliciting bids from firms to provide management and oversight of quarterly valuations, annual appraisals and consulting services relating to its real assets portfolio.


18 August

Montana Board of Investments committed $25 million to GEM Realty Fund VI and $20 million to Velocis Fund II, since its last board meeting.


16 August

In Q2 2016, State of Wisconsin Investment Board committed $150 million to Blue Vista’s student housing vehicle, Blue Vista Student Housing Select Strategies Fund.

California Public Employees' Retirement System has doubled its limits for real assets staff to make discretionary investments: the Managing Investment Director will be able to invest up to $3 billion and the Chief Investment Officer up to $6 billion into real estate without investment committee approval.


10 August

 Los Angeles City Employees' Retirement System has committed $25 million to Asana Partners Fund I.  

Erin Leonard will join Minnesota State Retirement System as the next executive director. She will succeed current executive director, Dave Bergstrom, who will retire this December. 


8 August

First State Super's chief investment officer (CIO), Richard Brandweiner, will leave the firm to join Leapfrog Investments in January 2017. Damian Graham will be the acting CIO and the firm will look for a permanent replacement.

4 August

New York City Retirement Systems has prepared a request for proposals to identify a firm or firms to provide strategic real estate investment consulting and support services.


3 August

Texas County and District Retirement System has committed $50 million to Harrison Street Real Estate Partners VI. The transaction was finalised on July 26.


1 August 

Florida State Board of Administration committed $25 million to Blackrock Europe Property IV, an opportunistic vehicle, in Q2 2016.


To view last month's LP Radar, click here.