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Sign in Sign up for a FREE subscriptionChicago pension fund commits $10m to value-add fund
The $1.2 billion Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago has approved a $10 million commitment to a value-added real estate fund managed by Mesirow Financial, according to a board meeting document.
The fund, Mesirow Financial Real Estate Value Fund III, is seeking to raise $750 million, according to a filing with the SEC.
The pension fund previously committed $10 million to Mesirow Financial Real Estate Value Fund II in 2015.
As of Sept. 30, 2017, Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago had a target allocation to real estate of 8 percent and an actual allocation of 5.3 percent.
