The $560 million Bush Foundation, St. Paul, Minn., hired two real estate managers to invest $10 million each in commingled funds, said CFO Gerald M. Skogley. AMB Institutional Realty Advisors will run a core portfolio and Walton Street will take a more aggressive approach.
The hirings bring the foundation's real estate allocation to 10%, its target level. Funding came from a reallocation among managers.
DeMarche Associates assisted with the searches.