Louisiana School Employees assigns $40 million to 2 real estate funds

Louisiana School Employees' Retirement System, Baton Rouge, committed $20 million each to Dune Real Estate Fund IV, an opportunistic real estate fund managed by Dune Real Estate Partners, and Pennybacker IV, a value-added real estate fund managed by Pennybacker Capital, said Matthew Freedman, chief investment officer, in an email.

The $1.9 billion pension fund's real estate allocation as of June 30 was 5.85%. The target is 5%.

Investment consultant Segal Marco Advisors assisted.

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