The $2.8 billion Seattle City Employees’ Retirement System has committed up to $15 million to AG Asia Realty Fund IV, according to Tony Smith, deputy CIO of the retirement system.
AG Asia Realty Fund IV is managed by Angelo, Gordon & Co., a privately held alternative investment firm. The closed-end opportunity fund will invest in real estate properties throughout Asia.
The previous fund in the series, AG Asia Realty Fund III, held an $850 million final close in 2016. AG Asia Realty Fund II and AG Asia Realty Fund I, raised equity commitments of $616 million and $526 million, respectively.
Seattle City Employees’ Retirement System has a target allocation to real estate of 12 percent with an actual allocation of 10.8 percent.
