Commonfund, Westport, Conn., hired CRA Real Estate Securities, EII Realty Securities and RREEF America to manage its first public REIT fund. Commonfund, which oversees assets of $21 billion for 1,400 schools and colleges, operates a private real estate equity program with $650 million.
Skip Miller, senior vice president and COO, Commonfund Realty, said the goal is to increase the public REIT fund to $300 million from its current $15 million. It was started in response to a strong demand from Commonfund investors, Mr. Miller said.
