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Investors - SEPTEMBER 28, 2017

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San Antonio Fire & Police commits $45m to four real estate funds

by Jody Barhanovich

The $2.8 billion San Antonio Fire & Police Pension System has committed a total of $45 million to four real estate funds, according to a board meeting document.

The pension fund committed $10 million each to Invesco U.S. Value-Add Fund V, sponsored by Invesco Real Estate; Rockpoint Real Estate Fund VI, sponsored by Rockpoint Group; and Townsend Real Estate Alpha Fund III, sponsored by The Townsend Group. And SAFPPF committed $15 million to Covenant Apartment Fund IX, managed by Covenant Capital Group. The pension fund has previously committed to all four managers.

San Antonio has a target allocation to real estate of 9 percent.

In other news, the pension fund reported a 14 percent net return for the fiscal year ending June 30.

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