Police and fire pension fund commits $30m to real estate
The Fire and Police Pension Fund of San Antonio has committed $30 million to real estate, divided evenly between three funds — Rockpoint Group’s Rockpoint Real Estate Fund V, DSF Group’s DSF Capital Partners V and Covenant Capital Group’s Covenant Apartment Fund VIII — according to recently released board minutes.
Rockpoint Group’s RREF V is an opportunistic fund that launched in the latter half of 2014. The fund is reportedly seeking a $2.5 billion haul to invest in distressed assets, with 80 percent of its capital directed at the United States, particularly Boston, Northern and Southern California, and Washington, D.C., and 20 percent going to international investments, particularly major coastal markets in Japan and Western Europe.
The fund recently received a $40 million commitment from another Texas