Chicago Teachers makes $35m follow-on commitment to TA Realty Value Add Fund XIII

Chicago Teachers' Pension Fund (CTPF) has approved a re-up of $35 million to TA Realty Value Add Fund XIII, according to a board meeting document from Feb. 17.

CTPF said the commitment provides additional exposure to industrial and residential sectors, which have been fairly resilient over the course of the pandemic.

CTPF previously made a commitment to Fund XII in 2018, which is close to ending its investment period and performed well for CTPF.

This is in line with the pension fund’s 2021 pacing study, which recommends up to $70 million projected to noncore real estate to maintain exposure to the noncore investment market in 2022. CTPF said it has worked to identify strong partners that it can continue to invest with in follow-on funds.