Pension fund makes $40m follow-on commitment
The Nebraska Investment Council has committed $40 million to Almanac Realty Securities VII, a value-add fund managed by Almanac Realty Investors.
“We are in Almanac V, so this is a re-up of sorts, and that is, by and large, an approach that the board likes to take,” says Joe Jurich, acting state investment officer. “The council likes the fund’s combination of risk and return, and that it’s a little different than an equity approach.”
The investment council committed $25 million to Almanac’s Fund V in 2008. Fund V closed in 2008 after raising $840 million, according to IREI’s FundTracker Database.
ARS VII is a $1 billion debt fund targeting U.S. investments and returns at the value-add level. The fund