The $2 billion Baltimore City Employees Retirement System (BCERS) has approved a $20 million follow-on commitment to Basis Investment Group Fund II, a closed-end fund managed by Basis Investment Group.
Basis is a commercial real estate investment manager, primarily focused on debt and structured equity strategies. The company originates and acquires diversified CRE debt investments across the capital stack of stabilized, transitional and development assets throughout the United States.
Other recent investors in Fund II include the Chicago Teachers’ Pension Fund and the State Universities Retirement System of Illinois.
Basis Investment Group is not a new manager for BCERS, as the pension fund also previously committed $20 million to Basis Fund I in January 2019. As of March 31, BCERS had an actual allocation of 11.1 percent to real estate, against a target of 13 percent.
