Searches and Hires

Chicago Metropolitan Water allocates $70 million to 2 core real estate funds

Chicago Metropolitan Water Reclamation District Retirement Fund committed about $70 million total, or 5% of total pension fund assets, to two core open-end real estate funds, said Susan Boutin, executive director of the $1.4 billion pension fund, in an email.

The pension fund committed about $35 million each to UBS Trumbull Property Fund , managed by UBS Realty Investors, and RREEF America REIT II, managed by Deutsche Asset Management. It is the fund's first real estate commitments.

An RFP was core real estate managers was issued this summer.