Wyoming to allocate $250 million to noncore investments
The Wyoming State Loans and Investments Board has decided to allocate an additional $250 million to noncore real estate during the next few years, per recommendation by the board’s investment adviser, R.V. Kuhns & Associates.
The institutional investor previously has made a $150 million commitment to Northwood Real Estate Partners, an open-end opportunistic fund managed by Northwood Investors. This is the investments board’s first noncore investment following R.V. Kuhns’s recent investment guidelines.
Prior to that commitment, the investments board had a noncore real estate portfolio totaling approximately $96 million spread out over four real estate funds: Heitman Value Partners II, a 2007 value-added real estate fund; TA Associates Real Estate Fund VIII, a 2007 value-added real estate fund; Cornerstone Core Mortgage Fun