Investors - DECEMBER 31, 2014

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University endowment commits $30m to noncore real estate

by Reg Clodfelter

The $1.2 billion University of Kentucky Endowment has committed $30 million to real estate, divided between two funds, confirms Susan Krauss, treasurer with the University of Kentucky.

The endowment committed $20 million to Northwood Real Estate Partners Series V, an opportunistic fund managed by Northwood Investors.The fund will target distressed properties and debt, using buyouts as well as investment in securities, and up to 40 percent of its total equity will be invested overseas.

The other $10 million was committed to Real Estate Capital Asia Partners IV, an opportunistic fund managed by SC Investment Management. The pan-Asian fund launched in June 2014 with an $800 million investment target and will invest across property types. The fund received a $100 million commitment from the New Jersey Division of Investment in November.

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