Delaware commits $40m to value-added real estate
The Delaware Public Employees Retirement System has committed $40 million to Marcus Partners Fund II, a U.S.-focused value-added fund managed by Marcus Partners, according to board documents.
The closed-end fund recently launched with a $250 million fundraising goal. No target close date was disclosed. The firm’s debut fund, Marcus Partners Fund I, closed in 2009 after raising $210 million and invested in a wide range of property types including office, bio-medical, medical office and light industrial properties.
Delaware PERS has a total portfolio valued at more than $8 billion. It houses its real estate investments in the fixed-income section of its portfolio, which has a target al