After discussion and careful consideration at a meeting in December 2021, the Baltimore City Fire & Police Employees' Retirement System board voted to re-up its allocation with real estate manager Dalfen Industrial, a spokesperson for the pension fund confirmed in an email.
The re-up involves a $20 million commitment in Dalfen Last Mile Industrial Fund V, a real estate vehicle that invests in industrial properties in the United States.
The fund opened to investors in September 2021 with an equity fundraising target of $500 million. This would be almost double the fund’s predecessor, Dalfen Last Mile Industrial Fund IV, which closed in January 2021 with $290.6 million in equity commitments. Fund IV followed a value-add investment strategy with a focus on high-quality last-mile industrial assets.
For more information about this commitment or other funds, please vis
