Schooling the competition

The Pennsylvania Public School Employees Retirement System has been steadily increasing its real estate investments.

SELECT COMMITMENTS

FUND SIZE
FUND ($m) YEAR
Blackstone RE Partners V $5,250 2006
Lubert-Adler Fund V $1,700 2006
Carlyle Realty Partners IV $900 2005
CSFB Strategic Partners III $2,400 2005
CB Strategic Partners IV $800 2005

PORTFOLIO SNAPSHOT

Total assets (billions): $57.2
Total real estate assets (billions): $3.4
Fund geography: North America, Western Europe
Current allocation to real estate: 6 percent
Target allocation to real estate: 7 percent
Annualized real estate performance: 31.3 percent