Ohio SERS commits to noncore real estate fund
The School Employees Retirement System of Ohio has committed $75 million to Lubert-Adler Real Estate Fund VII. The $12.7 billion pension fund approved the commitment at its April meeting, according to Tim Barbour, a spokesperson for the pension system.
The value-added fund seeks mid-sized real estate assets, with a strategy of repositioning apartment, retail and mixed-use assets in the United States.
The pension fund previously committed $70 million to Lubert-Adler Real Estate Fund VI-B in March 2011. Ohio SERS has a 12.5 percent target allocation to real estate and a 10.5 percent actual allocation.