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 (IVZ) Strategic Opportunities III, managed by Invesco Real Estate, as well as determine commitment amounts.