Mississippi Public Employees' Retirement System, Jackson, committed $75 million to AG Realty Value Fund X, a value-added real estate fund managed by Angelo, Gordon & Co., Chief Investment Officer Lorrie Tingle said in an email.
The $28.2 billion pension fund has made previous commitments to Angelo Gordon Core Plus Realty Funds II, III and IV.
Separately, the pension fund reported a preliminary gross return of 9.48% for the fiscal year ended June 30. Benchmark information was not provided. For the three, five and 10 years ended June 30, the pension fund posted annualized gross returns of 8.38%, 9.32% and 7.45% respectively. The pension fund returned a gross 14.96% in the fiscal year ended June 30, 2017.
The best-performing asset class was private equity, which returned a gross 16.66%, followed by domestic equities at 14.84%, global equities at 13.34%, real estate at 8,92%, international equities at 6.99% and fixed income at 0.75%.
As of June 30, the actual allocation was: 27.3% domestic equities, 21.6% international equities, 20.3% fixed income, 12.1% global equities, 10.1% real estate, 7.7% private equity and 0.9% cash.