PSERS approves $100m commitment to real estate fund

The $52.7 billion Pennsylvania Public School Employees’ Retirement System has approved the previously reported commitment to AG Europe Realty Fund II, according to press secretary Evelyn Williams. The pension fund committed $100 million to the fund.

AG Europe Realty Fund II is a value-added real estate fund managed by Angelo, Gordon & Co. The fund invests in office, hotel, industrial, multifamily and retail properties across western Europe and the United Kingdom. It launched in first quarter 2017 with a $750 million maximum fundraising target.

Previously, the fund received a $50 million commitment from the $15.1 billion Hawaii Employees’ Retirement System.

The fund’s predecessor, AG Europe Realty Fund, had an assumed final close in 2014, raising $268.7 million for the value-added European fund