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Investors - MARCH 13, 2018

PSERS commits $100m to industrial fund

by Jody Barhanovich

The $50.3 billion Pennsylvania Public School Employees’ Retirement System has committed $100 million to Cabot Industrial Core Fund II.

Cabot Industrial Core Fund II is managed by Cabot Properties, which seeks to provide superior risk-adjusted real estate returns by investing in core industrial properties located in the United States. The fund strategy will focus on accretive acquisitions of stabilized class A distribution buildings in 12 core industrial markets in the United States.

The commitment will be allocated to the core real estate portion of PSERS’ real assets portfolio, which had a total exposure of 22.7 percent, as of Sept. 30, 2017.

PSERS committed $100 million to the fund’s predecessor in 2016 as well.

In addition, PSERS recently committed $150 million to Almanac Realty Securities VIII, a value-added real estate vehicle that will make growth capital investments into real estate operating companies, often in a structured or debt format, primarily in the United States.

PSERS has a target allocation to real estate of 10 percent.

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