Missouri Local Government Employees’ Retirement System approves $75m commitment

The US public pension has backed a North American-focused value-add private real estate fund.

Institution: Missouri Local Government Employees’ Retirement System
Headquarters: Jefferson City, United States
AUM: $7.41bn
Allocation to alternatives: 34.5%
Bitesize: $50-100m

Missouri Local Government Employees’ Retirement System has approved a commitment of $75 million to Prudential Senior Housing Partners VI, a contact at the pension fund informed PERE. The fund focuses on value-add investments in multifamily / residential property in North America.

The $7.41 billion US public pension has a 13.4 percent allocation to private real estate.

As illustrated in the charts below, the system has made four private real estate commitments to funds with a 2018 vintage, which combined constitute $315 million.

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