Nebraska commits $10m to real estate fund
The $22.3 billion Nebraska Investment Council has committed $10 million to Metropolitan Real Estate Partners Secondaries & Co-Investments Fund, on behalf of the $1.2 billion general endowment pool the council oversees.
The secondaries fund, sponsored by Metropolitan Real Estate Equity Management, has raised $24.5 million so far, according to a filing with the SEC. The council previously committed to Metropolitan Real Estate Partners VI and Metropolitan Real Estate Partners International III in 2008.
The Nebraska Investment Council has a 7 percent target allocation to real estate and a 4.3 percent actual allocation to the asset class.