PSERS considers commitment to real estate fund
The $52.7 billion Pennsylvania Public School Employees’ Retirement System is considering an equity commitment to AG Europe Realty Fund II, according to its June 15 investment committee meeting agenda. The commitment amount was not disclosed.
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.
Final approval for the commitment will be made at PSERS’ investment committee meeting today.
PSERS has a target allocation to real estate of 12 percent.