Maine commits $25m to real estate
The Maine Public Employees Retirement System has committed up to $25 million to High Street Real Estate Fund V, according to Andrew Sawyer, CIO of the pension fund. The fund is managed by High Street Equity Advisors. The $12.8 billion pension fund committed $25 million to High Street Real Estate Fund IV in June 2013. According to High Street’s website, all of its funds focus on industrial properties in the eastern United States. The pension fund has a target allocation to real estate of 10 percent, with an actual allocation of 7.9 percent.