Arapahoe County Retirement Plan, Centennial, Colo., committed up to $13 million to Harbert U.S. Real Estate Fund V, which is managed by Harbert Management and focuses on multifamily and office properties, Lew Quigley, retirement plan administrator, said in an e-mail.
This is the $266.7 million retirement plan's first commitment to the manager, wrote Mr. Quigley.
The plan's allocation to real estate was 7% as of April 30. Its target allocation is 15%.
