Missouri Local Government approves $204.5m in commitments

The US public pension has backed three real estate vehicles.

Institution: Missouri Local Government Employees’ Retirement System
Headquarters: Jefferson City, United States
AUM: $8.14bn
Allocation to alternatives: 30.20%
Bitesize: $50-100m

Missouri Local Government Employees’ Retirement System has agreed to $204.5 million in private equity commitments, according to the pension’s recent board meeting minutes.

The commitments comprise of $75 million each to Related Real Estate Fund III and Fireside Real Estate Partners IV, with $54.5 million committed to Europa Fund VI. Each of the three funds are targeting value-add property investments, with both of the Related and Fireside funds being North America-focused. Europa Fund VI is a pan-European real estate vehicle.

As illustrated below, Missouri Local Government has made seven commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $519.5 million.

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