Michigan pension fund invests in AEW Partners Real Estate Fund IX

The Wayne County (Mich.) Employees’ Retirement System (WCERS) has approved a commitment of $10 million to the AEW Partners Real Estate Fund IX, an opportunistic fund that was launched by AEW Capital Management in February.

AEW has been appointed as an investment manager and will manage a value-added real estate portfolio via the investment, according to a March board meeting document.

The fund, AEW Partners Real Estate IX, is seeking to raise $750 million and will follow the investment strategy of previous funds in the series by investing in assets throughout the United States.

AEW is one of the largest real estate investment managers in the world with $78 billion in assets under management across all property types in North America, Europe and Asia Pacific.