Chicago Teachers commits $30m to Long Wharf, returns 8.68 percent for fiscal year

The Chicago Teachers’ Pension Fund (CTPF) has committed $30 million to Long Wharf Real Estate Partners VII (LW VII), a value-add real estate fund that will invest in select markets in the United States.

Managed by Long Wharf Capital, LW VII is seeking to raise $500 million in capital and will focus on acquiring office, industrial, multifamily and retail assets in need of repositioning, re-leasing or operational improvements. Long Wharf will then apply value-enhancing strategies and position the assets for sale into the core marketplace.

The fund plans to deploy its targeted $500 million toward 25 to 35 investments averaging between $10 million and $25 million each.

CTPF committed $35 million towards LW VI in 2018.

For the fiscal year that ended on June 30, CTPF posted a net return of 8.68 percent, underperforming its benchmark of 9.53 percent. However, the fund has outperformed its benchmarks for the past three-, five- and 10-year periods, generating ne