Searches and Hires

Seattle readies $25 million for Brookfield opportunistic fund

Seattle City Employees' Retirement System's investment committee recommended committing up to $25 million to Brookfield Strategic Real Estate Partners III, a global opportunistic real estate fund managed by Brookfield Asset Management, said Nina Melencio, office administrator, in an email.

The $2.6 billion pension fund previously committed $15 million to Brookfield Strategic Real Estate Partners II in 2015.

The pension fund's board of administration will vote to approve the recommendation at its Dec. 14 meeting.

The pension fund's real estate target is 12%; as of Sept. 30, the actual allocation as 10.7%.