Oklahoma Teachers' Retirement System, Oklahoma City, committed a total of $135 million to three non-core real estate funds and allocated an additional $50 million to an existing small-cap equity manager, said Tom Spencer, executive director of the $16.9 billion pension fund, in an email.
The pension fund committed $50 million each to Artemis Real Estate Partners Fund III, a closed-end fund investing in value-added and opportunistic real estate in the U.S.; and Harbert European Real Estate Fund V, managed by Harbert Management. It also committed $35 million to FCP Realty Fund IV, a value-added real estate fund managed by Federal Capital Partners.
The board also voted to allocate an additional $50 million to Neumeier Poma Investment Counsel, one of its active domestic small-cap value equity managers. The portfolio balance for Neumeier Poma was $208.7 million as of Aug. 31.
The board will also consider at its Oct. 24 meeting making commitments to AG Realty Value Fund X, a value-added real estate fund managed by Angelo, Gordon & Co., and Invesco Strategic Opportunities III, managed by Invesco Real Estate, as well as determine commitment amountInvesco., and Invesco Strategic Opportunities IIInvescoged by Invesco Real Estate, as well as determine commitment amounts.