Massachusetts-based pension fund commits $6 million to real estate
The $170 million Haverhill (Mass.) Retirement System has committed $6 million to two real estate funds, according to Sheryl Trezise, retirement system administrator.
The pension fund has committed $3 million each to TerraCap Partners III, sponsored by TerraCap Management, and DSF Multi-Family Real Estate Fund III, sponsored by DSF Group. The pension fund issued an RFP in August to find opportunistic/value-added real estate funds. The two funds were the only finalists.
Haverhill Retirement System has a 6.7 percent allocation to real estate and an 8.7 percent target allocation to the asset class.