Ohio Bureau of Workers’ Compensation, Columbus, committed $50 million to Latitude Management Real Estate Capital III for its $22 billion State Insurance Fund, confirmed spokeswoman Melissa Vince. The value-added fund is managed by Latitude Management Real Estate Investors.
It is the second value-added real estate commitment for the bureau, which has a target allocation of 1.5% to such funds.
The insurance fund’s total real estate target allocation of 6% was created in 2011. A total of $950 million, or 4.5% of the fund, was committed to eight active open-end core commingled real estate funds last September.
Investment consultant R.V. Kuhns & Associates assisted.
