Publications

PSERS commits $250m to real estate funds
Investors - JUNE 4, 2018

PSERS commits $250m to real estate funds

by Jody Barhanovich

The $56 billion Pennsylvania Public School Employees’ Retirement System has committed a total of $250 million to two real estate funds, according to Evelyn Tatkovski Williams, press secretary for the pension fund.

The first commitment was $150 million to AG Realty Value Fund X, a real estate fund managed by Angelo, Gordon & Co. Angelo, Gordon’s real estate strategy pursues a value-added investment approach across the globe, with a significant presence in the United States and Asia. The firm employs both domestically focused opportunistic and core-plus real estate strategies and a pan-Asia opportunistic real estate strategy.

The second commitment was $100 million to LEM Multifamily Fund V, managed by LEM Capital. The core-plus fund plans to invest in multifamily, student and senior housing assets throughout the United States.

PSERS has a target allocation to real estate of 12 percent, with an actual allocation of 11.7 percent.

Forgot your username or password?