Missouri pension commits $150m to two funds
The Missouri Local Government Employees Retirement System has committed $75 million each to Prudential Senior Housing Partners V and Related Real Estate Fund II, according to Megan Loehner, senior investment officer for the pension fund.
Both are new managers to the $4.4 billion pension fund. Loehner says the managers were chosen “for their sound investment process and strategy, as well as their extensive dedicated team.”
Prudential Senior Housing Partners V, managed by Prudential Real Estate Investors, is seeking $500 million in equity and is targeting independent-living, assisted-living and dementia-care facilities. The value-added fund has had recent investors such as the $11.2 billion New Mexico Educational Retirement Board, the $52 billion