The $2.3 billion Fort Worth Employees’ Retirement Fund has committed $25 million to a value-add real estate fund, according to Mary Kay Glass, communications/publications specialist for the retirement fund. Fort Worth made the commitment as part of the high growth allocation of the portfolio.
The fund, Ascentris Value Add Fund III, is managed by Ascentris, a real estate private equity firm based in Denver. Ascentris has invested across all the major property types and geographic regions in the United States. This is Fort Worth’s first investment with Ascentris.
In addition, Fort Worth Employees’ Retirement Fund reported a monthly return for June of –0.57 percent and a second quarter return of 0.68 percent. Through the first six months of 2018, the retirement fund’s portfolio returned 1.20 percent.
