Fort Worth pension fund commits $25m to data center/tech-related property fund

The Fort Worth Employees’ Retirement Fund board has approved an allocation of up to $25 million to IPI Data Center Partners Fund I, a noncore real estate commitment for the high-growth composite of the fund’s thematic asset allocation.

The board also received a performance update: the fund was up 0.51 percent for the first quarter of 2018.

IPI Data Center Partners Fund is managed by IPI Data Center Partners Management, LLC, an SEC-registered investment adviser. It is a technology-related real estate fund co-sponsored by ICONIQ Capital, a family-office adviser that includes Facebook founder Mark Zuckerberg, and an affiliate of Iron Point Partners. The fund makes real estate investments in data centers and other technology and connectivity-related real assets.

As of March 31, 2018, the Fort Worth Employees’ Retirement Fund was valued at $2.3 billion.