North Dakota RIO approves $200m commitment

The US public pension has backed Invesco Real Estate's latest value-add vehicle.

Institution: North Dakota Retirement and Investment Office
Headquarters: Bismarck, US
AUM: $18.5 billion
Allocation to alternatives: 20.8%

North Dakota Retirement and Investment Office has approved a $200 million commitment to Invesco U.S. Value-Add Fund VI, following its April 2021 investment board meeting.

The $18.5 billion US pensions had previously committed $70 million each to Fund IV and V of the series. The current commitment comprises $100 million apiece from the pension’s Legacy Fund and Trust Fund.

Invesco Real Estate is currently in market targeting between $1.25 billion-$1.5 billion in capital commitments for its sixth real estate vehicle in the US. The fund strategically targets core properties with both investor and occupant desired characteristics.

North Dakota RIO has a target allocation of 10.1 percent to private real estate, which currently stands at 9.7 percent.

As illustrated below, the pension’s recent fund commitments have predominantly targeted North American vehicles employing a value-add strategy.

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