The Pennsylvania State Employees’ Retirement Board (PASERS) has approved commitments of €100 million ($111 million) to two real estate funds managed by ActivumSG Capital Management, a German real estate investment firm.
The funds will focus on value-add/opportunistic investments in a variety of property types, primarily in Germany and Spain, the pension fund said.
ActivumSG targets special investment opportunities in select European real estate markets, focusing on high-quality, undervalued assets with unrealized potential.
The firm’s portfolio includes diversified assets, such as value-add office, residential development, turn-around retail, mezzanine loans, and special corporate situations. Transaction size typically ranges from €15 million ($17 million) to €200 million ($222 million).
PASERS has $29 billion in assets under management and is one of the oldest retirement plans in the United States.
