Kern County Employees’ (Calif.) Retirement Association committed $125 million to the HBC Financing Partners Fund, managed by Hudson Bay Capital Management, according to the IRE.IQ database. The real estate debt fund primarily provides financing for U.S. multifamily and retail properties, with a smaller allocation targeting student housing transactions.
Municipal Employees’ Annuity and Benefit Fund of Chicago approved two housing-related investments, committing $10 million to the AEW Essential Housing Fund, managed by AEW Capital Management, and another $10 million to the Avanath Affordable Housing Renaissance Fund, managed by Avanath Capital Management.
The AEW Essential Housing Fund is an open-end real estate core fund that invests in and manages rental housing for low- to moderate-income earners, often targeting rent-restricted, naturally occurring affordable housing and workforce housing. The Avanath Affordable Housing Renaissance Fund is an open-end evergreen f
