Searches and Hires

Vermont puts $130 million into real estate, private equity funds

Vermont Pension Investment Committee, Montpelier, committed $100 million to Brookfield Strategic Real Estate Partners III, a global, opportunistic real estate fund managed by Brookfield Asset Management, for the $4 billion Vermont State Retirement Systems, said Matt Considine, director of investments, in an email.

The committee began a shortlist search in February because the pension fund was underweight on real estate. The fund's real estate target is 8%; as of Dec. 31, the actual allocation was 6.7%. The other finalist was Centerbridge Partners.

Investment consultant NEPC assisted.

Separately, the committee made a follow-on commitment of $30 million to HarbourVest International Private Equity Partners VIII, a buyout fund of funds focused outside the U.S. managed by HarbourVest Partners. The committee originally committed $30 million to the fund of funds in December 2016.