The $14.3 billion Ohio School Employees Retirement System has committed $50 million to Almanac Realty Securities VIII, according to board meeting documents.
Almanac Realty Securities VIII is a private real estate noncore strategy fund, according to the documents. The fund makes growth-capital investments into real estate operating companies, often in a structured or debt format, primarily in the United States. It is managed by Almanac Realty Investors, a real estate advisory firm based in New York City. The fund has raised $1.12 billion so far, according to an SEC filing, and is targeting $1.5 billion.
The fund’s predecessor, Almanac Realty Securities VII, held a $1.42 billion final close in June 2015, exceeding its $1 billion equity fundraising target.
Ohio SERS has a target allocation to real estate of 12 percent.
