The District of Columbia Retirement Board has approved a re-up commitment of up to €70 million ($75 million) to Aermont Capital Real Estate Fund V, a European real estate fund.
The investment was narrowly approved 5–4, according to a tally published in the pension fund’s March 17 board meeting document.
Aermont Capital Real Estate Fund V, managed by independent asset management group Aermont Capital, opened in October 2021. The fund will target opportunistic real estate investments in Western Europe.
Aermont’s previous four pan-European investment funds in the series are mandated to invest in real estate and real estate–related opportunities in Europe, under direct asset, corporate and credit situations, according to the firm’s website.
The funds have received aggregate equity commitments of around €6 billion ($6.6 billion) from a mix of institutional investors that includes some of the most prominent public and private pension plans, sovere
