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Investors - JUNE 26, 2018

LAGERS commits $165m to real estate funds

by Jody Barhanovich

The Missouri Local Government Employees Retirement System (LAGERS) has committed a total of $165 million to two real estate funds, according to an investment meeting report from Brian Collett, chief investment officer for LAGERS.

The pension fund re-committed $105 million to Blue Vista Real Estate Partners V and committed $60 million to Portfolio Advisors Real Estate Fund VII.

The first fund, Blue Vista Real Estate Partners V, is managed by Blue Vista Capital Management, a Chicago-based investment management firm. The fund is a value-added real estate fund that will invest in properties through ventures with operating partners.
The second fund, Portfolio Advisors Real Estate Fund VII, is managed by Portfolio Advisors, an independent, private markets investment specialist headquartered in Darien, Conn. The fund invests in secondaries, primary and direct co-investment transactions in the private real estate sector.

In additional news, LAGERS’ report also stated that for the period ending March 31, the pension fund’s portfolio had $7.6 billion in assets under management and performance was as follows:

 

1 Year % 3 Year % 5 Year % 10 Year %
LAGERS Portfolio 14.69 7.88 8.76 7.54
Policy Benchmark 9.27 5.91 6.51 5.26

 

LAGERS’ assumed rate of return is 7.25 percent.

 

 

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