Idaho Endowment Fund commits $150m to two open-end funds

The $2.7 billion State of Idaho Endowment Fund Investment Board has committed $150 million to two core open-end real estate funds.

The Idaho Endowment Fund Investment Board allocated $75 million each to RREEF America II, managed by Deutsche Asset & Wealth Management, and UBS Trumbull Property Income Fund, managed by UBS Asset Management, according to Larry Johnson, manager of investments at the investment board.

Johnson says the board was drawn to the open-end funds because of their “long-tenured management teams and below-average leverage.”

These are the first real estate investments for the board.