Investors - MAY 8, 2014

Delaware commits $40m to value-added real estate

by Reg Clodfelter

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 allocation of 20 percent. As of June 30, 2013, the retirement system had 19.9 percent of its portfolio allocated to domestic fixed income and 1.8 percent allocated to international fixed income.

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