UPDATED: PSERS commits $300m to real estate funds
CORRECTION: On March 15 IREN reported Pennsylvania Public School Employees’ Retirement System's real estate consultant was NEPC. The pension fund's real estate consultant is Courtland Partners.
The $50.2 billion Pennsylvania Public School Employees’ Retirement System committed $300 million to two real estate funds, according to a board-meeting document.
The pension fund invested $100 million into Ares U.S. Real Estate Fund IX, a real estate fund managed by Ares Management. The value-added fund will primarily invest in U.S. office, hotel, industrial, multifamily and retail properties.
PSERS committed $75 million to the fund’s predecessor, Ares U.S. Real Estate Fund VII