Alabama Trust Fund adds UBS Realty Investors to real estate roster

Alabama Trust Fund Board, Montgomery, hired UBS Realty Investors to run $80 million in a core real estate commingled fund, according to recently released board meeting minutes.

The $3.3 billion trust fund, a sovereign wealth fund from oil and gas royalties, issued an RFP in February 2013 after increasing its target allocation to real estate to 9% from 5%.

As of Sept. 30, the trust fund had $71 million invested with Heitman and $21 million invested with Angelo, Gordon & Co.

Funding source information was unavailable. Other finalists were AEW Capital Management and Invesco (IVZ).

Phone calls to Young Boozer, state treasurer, and Glenda Allred, deputy treasurer, were not returned by press time.