Colorado-based pension plan commits $10m to real estate
The $278 million Arapahoe County (Colo.) Retirement Plan has committed $10 million to Harbert U.S. Real Estate Fund VI, according to recently released meeting documents.
The fund, which recently held a close of $106.3 million, is seeking to raise $500 million to invest in undervalued yet fundamentally sound apartment, office, retail and industrial real estate.
The pension fund previously committed $13 million to Harbert U.S. Real Estate Fund V, the fund’s predecessor, in 2014.
Arapahoe County has a 20 percent target allocation to real estate and an 18.4 percent actual allocation to the asset class.