Tallahassee Pension Plan makes follow-on investment with Westport Capital Partners

The $1.8 billion Tallahassee (Fla.) Pension Plan has committed $20 million to WCP’s Fund V, a real estate fund managed by Westport Capital Partners.

The opportunistic closed-end Fund V will invest in a variety of property types in the United States.

Tallahassee also previously invested $20 million in the previous fund in the series, Fund IV, in 2014, Kent Olson, deputy treasurer-clerk for the city of Tallahassee, confirmed in an email.

“We were looking to add another partnership to our opportunistic allocation within our real estate total,” said Olson.

Tallahassee is close to meeting its target allocation of 15.25 percent to the real estate asset class, said Olson. The fund currently has an allocation of 15 percent.