The $7.5 billion Missouri Local Government Employees Retirement System has committed $75 million to Garrison Real Estate Fund IV, according to Brian Collett, chief investment officer for the pension fund.
Garrison Real Estate Fund IV is managed by Garrison Investment Group. It is a closed-end, value-added real estate fund.
LAGERS previously committed $30 million to Garrison Real Estate Fund III and $45 million to Garrison Real Estate Fund II.
As of Dec. 31, 2017, LAGERS had a one-year return of 15.95, above its 11.66 percent policy benchmark. LAGERS’ assumed rate of return is 7.25 percent.
