Ohio SERS commits $100 million to core, open-end fund
The School Employees Retirement System of Ohio (SERS) has approved a follow-on commitment of $100 million to RREEF America REIT II, as of Oct. 1, 2013. SERS made an initial investment of $70 million into the fund in October 2004. Tim Barbour, SERS’ senior communications coordinator, confirmed the commitment.
RREEF America REIT II, operated by Deutsche Asset & Wealth Management, is an open-end fund that launched in July 1998. The private REIT is the firm’s flagship core commingled vehicle, which provides investors with core-type returns from a portfolio of unleveraged, income-producing properties across the United States.
This investment was the first real estate investment made by Ohio SERS this year. As of July 1, 2013, the system’s target allocation to real estate was broadened to global real assets with an interim target