Louisiana pension fund commits $25m to noncore real estate
The $1.8 billion Louisiana Municipal Police Employees Retirement System has committed $25 million to Siguler Guff Distressed Real Estate Opportunities Fund II Co-investment Fund, according to recent meeting documents. The pension fund conducted a search in late 2015 for noncore real estate funds. Other finalists were Brookfield Strategic Real Estate Partners II and Davis Investment Ventures Fund III. The Contra Costa County (Calif.) Employees’ Retirement Association also committed $25 million to the Siguler Guff fund in 2015. The Louisiana pension fund has a 10 percent target allocation to real estate.