Michigan retirement system commits $10m to real estate funds

The $213 million Monroe County (Mich.) Employees Retirement System has committed a total of $10 million to two real estate funds, according to Joey Becker, retirement specialist for the pension fund.

The pension fund committed $5 million each to Alidade Capital Fund IV and TerraCap Partners IV.

Alidade Capital Fund IV is a closed-end real estate fund that will invest in U.S. properties. It is managed by Alidade Capital, a fund manager that is currently managing four funds that focus on value-add real estate investments in select secondary markets.

TerraCap Partners IV is managed by TerraCap Management Corp. The fund will invest in value-added properties throughout the United States.