Chicago Public School Teachers’ Pension and Retirement Fund will commit $20 million to PRISA II, an enhanced risk real estate fund, said Michael Nehf, executive director of the $10 billion plan. Funding comes from a reduction in the J.P. Morgan Special Situation Property fund, which now has $20 million in plan assets.
The plan also committed $80 million in real estate core value to PRISA I and increased its commitment to the UBS Brinson RISA real estate fund from $47 million. It also reduced commitments to the TimesSquare Charter real estate fund to $80 million from $100 million and to the J.P. Morgan Strategic Property fund to $80 million from $130 million. The plan also will maintain its $26 million commitment to the Lend Lease Office Opportunity C real estate fund. The plan eliminated its $44 million investment with the SSR Tower Fund, Mr. Nehf said.
