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Sign in Sign up for a FREE subscriptionSan Antonio Fire & Police pours $25m into core open-ended real estate
The San Antonio Fire & Police Pension Fund has agreed to commit $25 million to a core open-ended real estate fund managed by IDR Investment Management, according to a recent board meeting document.The exact name of the IDR fund was not disclosed in the meeting minutes.
At the July 25 meeting, representatives from IDR, Principal and PRISA each presented strategies in response to a core open-end real estate search. The IDR strategy was chosen through a 4:1 motion.
IDR runs the IDR ODCE Index Fund, one of the first open-end private equity real estate funds designed to track the NCREIF NFI-ODCE Index. The fund’s design mirrors the NCREIF NFI-ODCE metrics of property-type weightings, regional diversification, number of properties, leverage and occupancy, in an effort to provide more accurate portfolio management solutions for investors seeking to cons