Missouri LAGERS announces $40m commitment to Portfolio Advisors Real Estate Fund VIII

The $9.76 billion Missouri Local Government Employees Retirement System (LAGERS) has made a $40 million commitment to Portfolio Advisors Real Estate Fund VIII, managed by Portfolio Advisors.

Portfolio Advisors opened the fund to investors in January but did not disclose a fundraising target. A month later, the fund had secured $50 million in commitments from two investors. Portfolio Advisors Real Estate Fund VIII will invest in secondaries and direct co-investment transactions in the private real estate sector, predominantly in the United States.

According to a spokesperson for Missouri LAGERS, this is a re-up, following a $60 million commitment in the fund’s predecessor, Portfolio Advisors Real Estate Fund VII.

“We lowered our commitment to PA Real Estate Fund VIII to allocate more capital to real estate co-investments,” said B