Phoenix City Employees pledges $25 million to real estate fund

Phoenix City Employees' Retirement System committed $25 million to Wheelock Street Real Estate Fund V, a U.S. opportunistic fund managed by Wheelock Street Capital, said Greg Fitchet, investment manager.

The $2 billion pension fund previously committed $30 million to Wheelock Street Real Estate Fund II in December 2013.

Real estate consultant RVK assisted.

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