Investors - MARCH 9, 2015

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Idaho Endowment to invest in real estate

by Andrea Waitrovich

The Idaho Endowment Fund has plans to enter the real estate sector. During its Feb. 11 meeting, the endowment fund directed its staff and its investment consultant, Callan Associates, to develop an implementation plan to invest $150 million in U.S.-focused, open-end, private, institutional-grade, core commercial real estate funds, with a bias toward low leverage. Idaho Endowment aims to have an investment plan completed and approved by November.

The endowment expects that adding a U.S. real estate portfolio will help with diversification, both from an economic and account perspective; will add inflation protection; and will provide a steady income return.

The state endowment assets consist of $1.8 billion of invested assets (70 percent equity and 30 percent fixed income) and land granted to the state at statehood with a cash flow value of $1.1 billion. Therefore, a $150 million investment in real estate would represent 8 percent of the liquid portfolio an

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