Louisiana Municipal Police Employees’ Retirement System, Baton Rouge, will invest up to $50 million in Prudential Real Estate Investors II, confirmed Henry Dean, board chairman of the $1.6 billion fund. The exact amount has not been determined, and the source of funding has not been identified. Mr. Dean could not provide the amount of the fund’s existing core and value-added real estate investments, which are run by Principal Global Investors.
The investment in Prudential’s core-plus fund was made on the recommendation of Summit Strategies, which assisted in the invitation-only search.
Separately, the board selected finalists for a core-plus fixed-income manager and an international value manager, although Mr. Dean was unable to identify the firms. Selections will be made in April and May, respectively.
