The Employees Retirement System of the City of Baton Rouge & Parish of East Baton Rouge (CPERS) has committed $55 million to the Principal Enhanced Property Fund, an open-ended fund managed by Principal Real Estate Investors.
This was a new commitment for CPERS, which doubled the fund’s overall allocation to real estate at 10 percent, a spokesperson for the pension fund said in an email.
Principal Enhanced Property Fund is a core-plus fund that invests in multiple property types throughout the United States. As of October 2020, the vehicle had collected roughly $2.7 billion in capital commitments, according to an SEC document.
Among other investors, the vehicle also attracted capital from the Sioux Falls (S.D.) Retirement System and the New Orleans City Employees Retirement System.
