Chicago Teachers’ backs Longpoint Realty’s latest fund

The $9.7 billion Chicago Teachers' Pension Fund has approved a $30 million commitment to Longpoint Realty Fund II, a value-added fund managed by Longpoint Realty Partners, a recent meeting document has disclosed.

The closed-end investment vehicle opened to investors in late April and had raised $200 million from five investors as of early May, according to a Form D filed with the SEC. An equity fundraising target was not disclosed.

The strategy of Longpoint Realty Fund II is to invest in logistics properties throughout the United States.

Chicago Teachers' has invested in Longpoint Realty funds in the past, according to a recent board meeting document.

As of Feb. 29, the pension fund had an 8.6 percent allocation to real estate, representing a value of $902.5 million.