Mississippi PERS commits $75m to real estate fund

The $28.2 billion Mississippi Public Employees’ Retirement System has committed $75 million to AG Realty Value Fund X, according to Lorrie Tingle, CIO for the pension fund.

AG Realty Value Fund X is a value-added real estate fund managed by Angelo, Gordon & Co., a global credit and real estate investment manager. Angelo, Gordon’s real estate strategy pursues a value-added investment approach across the globe, with a significant presence in the United States and Asia. The firm employs both domestically focused opportunistic and core-plus real estate strategies and a pan-Asia opportunistic real estate strategy.

In additional commitments, the Angelo, Gordon fund also recently received a $5 million commitment from the $821.1 million Merced County (Calif.) Employees’ Retirement Association.

Mississippi PERS has a target allocation to real estate of 10 percent with an actual allocation of 10.1 percent.